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S&P gives AA- to St. Luke's Episcopal Hospital, Texas, bonds
Standard & Poor's said it assigned an AA- long-term rating and stable outlook to Harris County Health Facilities Development Corp., Texas' $200 million of series 2008A and 2008B variable-rate demand bonds issued for St. Luke's Episcopal Hospital, Texas.
The entire 2008 bond series will carry a standby bond purchase agreement from a consortium of banks, Bank of America NA, Wachovia Bank NA and JPMorgan Chase Bank NA.
S&P also said it affirmed the AA- long-term rating on St. Luke's series 2001A, 2002 and 2005A bonds and the AA-/A-1+ on St. Luke's series 2001B bonds.
The series 2005A bonds' short-term rating was placed on CreditWatch with negative implications because Citibank NA's rating was placed on CreditWatch with negative implications.
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