...Sale Date: Week of Sept. 23. Series: $650,000,000 Taxable Series 2019A, Fixed Rate Bonds; $150,000,000 California Health Facilities Finance Authority, CA's Series 2019B Put Bonds; and $393,290,000 California Health Facilities Finance Authority, CA's Series 2019C Put Bonds. Purpose: Refunding/Repayment of Existing Debt. Security: Bond payments are an unsecured corporate obligation of the obligated group. Fitch's 'AA-' rating reflects Providence Health and Services' (Providence) position as the leading acute care provider in multiple growing and demographically favorable markets, insulating it from significant competition and supporting midrange revenue defensibility over the long term. Fitch Ratings also affirms its 'F1+' self-liquidity rating based on Providence's short-term liquidity coverage and its 'AA-' long-term rating. Providence has improved overall operating income and EBITDA margins over the last two years, and Fitch believes the system's current trajectory will continue with operations...
