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Fitch assigns AA+/F1+ to Banner Health, Ariz., bonds
Fitch Ratings said it assigned an AA+/F1+ rating to the Arizona Health Facilities Authority revenue bonds issued for Banner Health, including weekly rate securities series 2008B and 2008C at $98.750 million each.
The bonds are expected to be delivered on June 19.
Proceeds will be used to refinance outstanding debt incurred for the benefit of Banner Health and to pay costs of issuance and refinancing.
The ratings are based on letters of credit from Bank of Nova Scotia, rated AA-/F1+ by Fitch.
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