Report title: Summary: Charlotte-Mecklenburg Hospital Authority, NC's Series 2007B And 2007C Bonds Rating Revised To 'AA-/A-1+'; System
from S&P Credit Research
925 word report published Nov 06, 2009

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Abstract: Standard&Poor's Ratings Services revised its rating on Charlotte-Mecklenburg Hospital Authority, N.C.'s variable-rate health care revenue bonds series 2007B and 2007C to 'AA-/A-1+' from 'AA-/NR', reflecting the borrower's decision to substitute its existing standby bond purchase agreement (SBPA) with Bayerische Landesbank (A-1) with a SBPA provided by JPMorgan Chase Bank N.A. (A-1+) effective Nov. 5, 2009. The long-term component of the rating reflects the underlying financial strength of the Charlotte-Mecklenburg Hospital Authority. The short-term component of the rating represents the likelihood of payment of tenders due to a failed remarketing pursuant to a liquidity facility provided by JPMorgan Chase Bank N.A. (A-1+), which shall provide coverage for principal and 34 days of interest at the maximum rate of 12%

Brief Excerpt: RESEARCH Ratings Definitions Summary: Charlotte-Mecklenburg Hospital Authority, NC's Series 2007B And 2007C Bonds Rating Revised To '##-/A-1+'; System Publication date: 06-Nov-2009 Primary Credit Analyst: Beatriz Peguero, New York...

Report Type: Summary
Issuer: Charlotte-Mecklenburg Hosp Auth
Sector: Public Finance
Country: United States
Region: United States
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