The notes are expected to mature on Nov. 1, 2017.
The rating assignment reflects a commitment from the Rural Department of the U.S. Department of Agriculture to provide a direct loan upon substantial completion of Avita’s project to pay the notes. Avita’s solid cashflow provides adequate liquidity in case project overruns occur.
More hospital outlook and credit rating actions:
Moody’s assigns ‘Aa2’ to Advocate Health Care Network’s bonds
S&P raises Berkshire Health Systems’ rating to ‘A’
Fitch upgrades Holy Redeemer Health System’s bonds to ‘BBB’
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