Andrea K. Walker, The Baltimore Sun
6:11 PM EDT, April 10, 2013
Fitch Ratings said Tuesday it has issued a AA- rating on two series of bonds worth $299 million to be issued to The Johns Hopkins Health System for refinancing and capital improvements.
One series of revenue bonds from the Maryland Health & Higher Educational Facilities Authority valued at $152 million will be used to refinance four series of outstanding bonds.
Another series of taxable bonds will fund the implementation of new clinical systems and other capital projects. Both series are expected to sell in early May.
Fitch also affirmed its AA- rating on Hopkins outstanding debt.
The AA rating reflects Fitch's belief that Hopkins' debt is of "very high credit quality" with very low risk of default. The ratings agency cited Hopkins' world-renowned clinical reputation, continuing system integration, consistent financial strengthening and moderate capital needs.
Copyright © 2014, The Baltimore Sun