Fitch Ratings
Fitch Places Halifax Health on Rating Watch Positive
Published in Law and Health Weekly, September 20th, 2008
Fitch Ratings has placed the 'BBB+' underlying rating on approximately $177 million of bonds issued on behalf of Halifax Health (Halifax) on Rating Watch Positive following Halifax's announcement of its intention to sell its health plan, known as Florida Health Care Plan, Inc. (FHCP) to Blue Cross and Blue Shield of Florida (BCBSF) for $85 million. The transaction has been approved by the boards of both Halifax and BCBSF.
Fitch views the sale positively and believes Halifax will observe significant balance sheet improvement upon the sale's closing. A specific closing date of the sale will be determined following a period of due diligence and regulatory approvals. Fitch...
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