Fitch Ratings has assigned a "BBB+" rating to $95.72 million of series 2015 revenue bonds that are expected to be issued by Buffalo, N.Y.-based Catholic Health System.
Proceeds from the bond issuance will be used for the acquisition of an administrative building and various capital projects, among other things.
The rating assignment was supported by a number of factors, including the system's solid market position, strong operating performance and ability to absorb additional debt.
Fitch said, "Negative pressure may result from unexpected underperformance in cash flow or deterioration in liquidity," which the rating agency considered a rating sensitivity.
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