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S&P rates University Community Hospital, Fla., bonds BBB
Standard & Poor's said it assigned a BBB rating to the Hillsborough County Industrial Development Authority, Fla.'s $83.2 million of series 2008A bonds to be issued for the University Community Hospital Inc.
The rating reflects the effect of $50 million of series 2008B variable-rate demand bonds to be issued for the hospital, backed by a letter of credit from Wachovia Bank NA.
S&P also said it affirmed the BBB rating on $40.5 million of series 1999A and 1999B bonds, but proceeds of the series 2008A bonds are expected to refund series 1999A bonds and unrated series 2003A bonds.
The outlook is stable.
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