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Fitch rates Mountain States Health, Tenn., bonds A+/F1+
Fitch Ratings said it assigned a rating of A+/F1+ to Health and Educational Facilities Board of Johnson City, Tenn.'s $73 million of hospital revenue bonds (Mountain States Health Alliance). The issue consists of $16 million of series 2008A bonds and $57 million of Industrial Development Authority of Russell County, Va., hospital revenue bonds (Mountain States Health Alliance) series 2008B.
The rating is based on support provided by two separate irrevocable direct-pay letters of credit issued by Regions Bank. Merrill Lynch, Pierce, Fenner & Smith Inc. is the remarketing agent.
Delivery of the bonds is expected on Feb. 20.
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