Summary: Henry County Health Care Authority, Alabama; Miscellaneous Tax Oct 11
- ID: 1929441
- October 2011
- Region: Alabama
- Standard & Poors
Standard & Poor's Ratings Services assigned its 'A' long-term rating to Henry County Health Care Authority, Ala.'s series 2006 and 2008 health care facilities tax anticipation bonds. At the same time, Standard & Poor's affirmed its 'A' long-term rating on the authority's series 2011 debt outstanding. The outlook on all debt is stable. The ratings reflect what we view as the authority's: Solid maximum annual debt service (MADS) coverage equal to 1.5x; Steady pledged revenue stream; and Adequate bond provisions, with a 1.25x additional bond test. In our opinion, the rating is constrained by the authority's limited economy, coupled with below-average wealth and income levels. A first-lien pledge of 75% of the ad valorem tax levied by the Henry County...
Companies mentioned in this report are:
- Henry Cnty Hlth Care Auth
Action: New Rating
Action: Outlook: Stable
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