Fitch Ratings has placed on Rating Watch Negative the following AA-rated St. Petersburg, Fla., Health Facilities Authority on behalf of All Children's Hospital (ACH): $63.6 million, series 2009A; $25.8 million, series 2007B; and $18.7 million, series 2002.
The bonds are secured by a revenue pledge of the obligated group.
Fitch has placed ACH's bonds on Rating Watch Negative due to the expectation that ACH will join the Johns Hopkins Health System (JHHS) obligated group (OG; Fitch rates JHHS AA-minus; Stable Outlook). JHHS became ACH's sole corporate parent in 2011 but retained separate obligated groups for the respective debt. ACH's series 2009 bonds are expected to become a JHHS OG obligation and the series 2002 and 2007B bonds will be redeemed.
