Home » NEWS » Banking & Finance » Fitch rates health system's bonds 'AA'

Fitch rates health system's bonds 'AA'

TUPELO — Fitch Ratings has assigned an “AA” rating to approximately $75 million in Mississippi Hospital Equipment and Facilities Authority revenue bonds (North Mississippi Health Services), 2010 series 1.

Additionally, Fitch has affirmed the “AA” rating on North Mississippi Health Services (NMHS) approximately $127.6 million in outstanding parity debt, as well as the “F1+” short-term rating on the parity debt.

All of NMHS’ outstanding debt is variable debt supported by self-liquidity.

The rating outlook is “stable.”

The series 2010 bonds will be issued as fixed rated debt, of which half will be issued as seven year serial maturity bonds, with a 2017 bullet maturity. The seven-year bonds, which are structured to take advantage of the current yield curve, are not a credit concern as Fitch said it believes NMHS has the financial flexibility to restructure the debt or resources to meet the bullet maturity when it comes due.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Wally Northway

Leave a Reply

Your email address will not be published. Required fields are marked *

*