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Fitch Ratings

Fitch Rates Texas Children's Hospital's $300MM 2007 Bonds 'AA'; Outlook Stable

Published in Medicine and Law Weekly, June 22nd, 2007

Fitch Ratings has assigned an underlying 'AA' rating to Texas Children's Hospital's (TCH) upcoming composite $300 million series 2007 bonds. In addition, Fitch affirms the ratings on TCH's approximately $254.7 million of outstanding debt at 'AA'. The Rating Outlook is Stable.

Bond proceeds will help fund a four-year $1.5 billion capital expansion program that includes a new hospital campus in West Houston, a new women's hospital on the Texas Medical Center main TCH campus, expansion of research facilities, and other various capital improvement projects. Remaining capital costs will be funded through cash flow, hospital equity, and an additional $200 million in debt...

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