Fitch gives AA-/F1+ to Upper Chesapeake Health bonds

Fitch Ratings said it assigned a rating of AA-/F1+ to the $63.91 million series 2008A and $60.19 million series 2008B revenue bonds issued by the Maryland Health and Higher Educational Facilities Authority for Upper Chesapeake Health System.

The bonds are expected to be delivered on Aug. 8.

The rating is based on letters of credit provided by Bank of America NA for the series 2008A bonds and Branch Banking and Trust for series 2008B.

Proceeds will be used to acquire property in Havre de Grace, Md.; refund a portion of the issuer's outstanding series 2007A and series 2007B revenue bonds; and pay issuance costs.

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