S&P: Baptist Health Care bonds on negative watch

Standard & Poor's said it placed its BBB+ standard long-term rating on Escambia County Health Facilities Authority, Fla.'s series 1998 hospital revenue bonds issued for Baptist Health Care on CreditWatch with negative implications.

The CreditWatch placement reflects a potential sizable debt issuance to finance the June 26 board-approved acquisition of West Florida Hospital from Hospital Corp. of America Inc. The signed asset purchase agreement for $245 million will likely be financed with a long-term tax-exempt bond issue.

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