Fitch affirms S.C. Economic Development hospital bonds

Fitch Ratings said it affirmed its A underlying rating on the South Carolina Jobs Economic Development Authority's $94.5 million of hospital revenue bonds (Sisters of Charity Providence Hospitals), series 2001.

The outlook is stable.

The bonds are backed by an irrevocable direct pay letter of credit from Wachovia Bank, which Fitch was not asked to rate.

Fitch said the affirmation reflects a guarantee provided by the Sisters of Charity of St. Augustine Health System, the sole member of Sisters of Charity Providence Hospitals.

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