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TCH 2010 bonds rated 'AA'

22. December 2009 04:09

Fitch Ratings has assigned an 'AA' rating to Texas Children's Hospital's (TCH) upcoming $78.82 million series 2010 bonds issued through the Harris County Cultural Education Facilities Finance Corporation (Cultural Corporation). In addition, Fitch affirms the unenhanced 'AA' ratings on TCH's outstanding debt (approximately $735 million as of Sept. 30, 2009) issued by the Cultural Corporation and by the Harris County Health Facilities Development Corporation.

Proceeds will retire all of TCH's auction bonds equal to the discounted price at time of closing and pay associated costs of issuance. The bonds are expected to sell via negotiation the week of Jan. 4, 2010 and are general and unsecured obligations of TCH.

The Rating Outlook is Stable.

Source Texas Children's Hospital

3a634365-fc58-43f4-bb76-2705c8691b09|0|.0

Posted in: Business / Finance

Tags: Education, Hospital, Investment, Medicaid, Pediatrics

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