The Adventist Health System-Sunbelt Obligated Group on Monday won a trio of rating upgrades from Moody’s Investors Service in conjunction with the conversion or addition of letters of credit from SunTrust Bank on three series of bonds.
All three issues were sold by the Highlands County Health Facilities Authority.
Moody’s upgraded its long-term rating to Aa2 from A1 on Adventist’s Series 2007C auction-rate bonds being converted to the weekly mode, the Series 2006B bonds in conjunction with cancelling the standby bond purchase agreement from Dexia Credit Local and insurance by Financial Guaranty Insurance Co., and the Series 2004A auction-rate bonds being converted to the weekly mode.
