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Fitch gives AA to OhioHealth bonds
Fitch Ratings said it assigned an AA rating to the $186.7 million 2008A variable-rate demand revenue bonds issued by the County of Franklin, Ohio, for OhioHealth Corp. The outlook is stable.
The variable-rate demand bonds are expected to sell via negotiation the week of July 28.
Proceeds will be used to refund the county's 2003A and 2003B auction-rate securities issued for OhioHealth.
The bonds are expected to be backed by a stand-by bond purchase agreement from JPMorgan Chase NA, and Fitch said it will assign a short-term rating based on it.
Fitch affirmed its AA underlying rating on about $400 million of outstanding County of Franklin revenue bonds issued on behalf of OhioHealth.
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