The bonds are supported by an irrevocable direct pay letter of credit provided by U.S. Bank National Association. The “Aa1” long-term rating on the bonds is based on the agency’s review and revision of the long-term joint default analysis rating on CHMC’s bonds Feb. 15.
The short-term “VMIG 1” rating assigned to CHMC’s series 2008A revenue refunding bonds remains unchanged.
More articles on healthcare finance:
Fitch revises ratings watch on Tulare Regional Medical Center’s ‘BB-‘ rated bonds to negative
S&P lowers rating on Ryder Memorial Hospital’s bonds to ‘B+’
Moody’s assigns ‘Ba2’ rating to Reliant Medical Group’s bonds
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