A substitute letter of credit will be provided by Bank of America to support the certificates and the level of default dependence between Marietta, Ga.-based WellStar Health System and Bank of America will be reassessed.
Effective June 16, the bonds will be supported by the Bank of America.
The affirmation is based on a joint default analysis which takes into account a number of factors such as the long-term Ccounterparty risk assessment of the bank, underlying rating of the certificates, probability in default payment by the bank and the obligor and the legal protections and structure of the transaction.
More articles on healthcare finance:
4 of 37 provider-sponsored health plans profitable in 2015
Illinois ordered to increase Medicaid funding to providers during budget impasse
Federal judge to decide whether Illinois must expedite $2B in Medicaid payments owed to providers in budget stalemate
