Texas Health Resources to raise $360M of new debt for capital projects

S&P assigned an "AA" long-term rating to $300 million of taxable series 2015 bonds and $60 million of series 2015A tax-exempt revenue bonds, both issued on behalf of Arlington-based Texas Health Resources.

The bond proceeds of $360 million will be used for construction, renovation and expansion projects at the system's facilities.

The rating assignment was based on a number of factors, including Texas Health's very good operating results and leading market share, according to Kevin Holloran, an S&P credit analyst.

The system's outlook is stable, which reflects S&P's expectation that Texas Health will continue its track record of solid operating income levels and also continue to prepare for population health management.

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