Fitch assigns 'AA-' rating to University Medical Center of El Paso's bonds

Fitch Ratings assigned an "AA-" rating to the University Medical Center of El Paso (Texas)'s $102.475 million of series 2017 general obligation refunding bonds.

The ratings agency also affirmed the "AA-" rating and removed select bonds from rating watch evolving, including:

  • $132.575 million of series 2013 combination tax and revenue certificates of obligation
  • $108.895 million of series 2013 general obligation refunding bonds
  • $3.275 million of series 2009 general obligation refunding bonds
  • $112.260 million of series 2008A general obligation bonds

The proceeds from the bonds will be used to refund the district's outstanding 2008A general obligation bonds and to pay the costs of issuance. Officials expect to sell the bonds via negotiation the week of March 6.

The outlook is stable.

More articles on healthcare finance:
19 recent hospital outlook and credit rating actions
S&P revises University Medical Center of El Paso's outlook to negative
S&P revises Good Shepherd Health System's rating to 'A' on bonds

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