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Fitch affirms Ballad’s “A” credit rating | Business News

Fitch Ratings announced it has affirmed Ballad Health’s “A” credit rating with a “stable” outlook Tuesday citing Ballad’s strong financial planning and considerable credit resiliency.

This credit rating affects Ballad Health’s series of debt instruments, as well as the organization’s planned refunding of variable rate demand bonds expected to be issued this summer. The new issue, up to $176 million, is designed to reduce existing cost of credit, saving Ballad Health several millions of dollars annually in interest. Ballad Health will not be assuming any incremental new debt as it restructures existing higher interest debt, replacing it with lower interest vehicles and utilizing appropriate tax-exempt financing for eligible capital expenditures.

“Despite persistent pressure and disruption from the pandemic, Ballad has maintained its operating and financial profile throughout, demonstrating…

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