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Summary: Charlotte-Mecklenburg Hospital Authority, North Carolina; System Jul 09 Product Image

Summary: Charlotte-Mecklenburg Hospital Authority, North Carolina; System Jul 09

  • Published: July 2009
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services affirmed its 'AA-' long-term rating and underlying ratings (SPURs) on Charlotte-Mecklenburg Hospital Authority, N.C.'s bonds. The authority does business as Carolinas HealthCare System (CHS). In 2008, management restructured $968.8 million in auction- and variable-rate securities. The series 2007B, 2007C, and 2007L bonds are supported by liquidity facilities from Bayerische Landesbank. The Ambac bond insurance policies were removed at the time the current liquidity facilities were amended and restated. The series 2007D, 2007E, and 2007F bonds and series 2007G, 2007J, and 2007K bonds are insured by Financial Security Assurance Inc. ('AAA'), and are supported by Dexia Credit Local liquidity facilities. The series 2007H variable-rate demand bonds previously supported by an irrevocable liquidity facility by Wachovia Bank...

Companies mentioned in this report are:
- Charlotte-Mecklenburg Hosp Auth

Action: Affirmed
Action: Outlook: Stable

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- Charlotte-Mecklenburg Hosp Auth

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