Fitch rates Lake Hospital, Ohio, bonds A-

Fitch Ratings said it assigned an A- rating to the County of Lake, Ohio's $190 million of series 2008A and 2008B revenue bonds (Lake Hospital System, Inc.).

Series 2008A will be issued as fixed-rate securities with proceeds used to refund the series 2004 and 2007A bonds.

The 2008B bonds will be issued as variable-rate bonds wrapped with credit enhancement expected from a top tier bank, which will currently refund the 2007B and 2007C bonds that were issued in auction-rate mode.

Fitch said it expects to assign a short-term credit rating based on the credit enhancer for the 2008B bonds.

Fitch also said it assigned an underlying A- rating to all outstanding parity debt.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.