Moody’s Investors Service upgraded to A1 from Ba2 Baptist Health System of East Tennessee Obligated Group’s $135 million of outstanding Series 2002 bonds issued by the Knox County Health, Educational, and Housing Facilities Board.

The outlook is negative. Analysts attributed the upgrade solely to amendments to the legal documents, through which Catholic Healthcare Partners assumes the obligations of BHSET. The Series 2002 bonds now stand on parity with CHP’s other debt under the master indenture, Moody’s said.

CHP’s debt is currently rated A1 with a negative outlook. Future rating affirmations or changes to the bonds will be made in connection Moody’s review of Catholic Healthcare Partners.


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