Fitch Upgrades West Penn Allegheny Health System (Pennsylvania) $735MM Revs to 'BB'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings has upgraded to 'BB' from 'BB-' and removed from Rating Watch Positive the Allegheny County Hospital Development Authority's $735 million health system revenue bonds (West Penn Allegheny Health System West Penn Allegheny Health System (WPAHS) is the second-largest provider of healthcare in metropolitan Pittsburgh, Pennsylvania, USA. It competes against much-larger UPMC. [WPAHS WPAHS West Penn Allegheny Health System ]), series 2007A. WPAHS' outstanding series 2000 bonds are similarly upgraded. The Rating Outlook is Stable. The rating action reflects the agreement reached between WPAHS and the Internal Revenue Service to the effect that federal regulations will not prohibit the advance refunding of the entire amount of the outstanding series 2000 bonds. WPAHS has terminated its invitation to tender the outstanding series. For more information, please refer to Fitch research dated April 27, 2007, titled 'Fitch Rates West Penn Allegheny Health System (Pennsylvania) $735MM 'BB-'; on Watch Positive'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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