Hospitals with BoA-backed bonds that do not take some kind of action may wind up paying a higher interest rate on an accelerated amortization schedule, according to the report. HFA Partners recommends hospitals evaluate three options if a downgrade does occur:
• Get a substitute letter of credit.
• Refinance with a bank direct placement.
• Refinance with a public offering.
To read the entire HFA Partners article, click here.
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