Fitch Ratings has placed $34.3 million of Series D bonds issued by the Connecticut Health and Educational Facilities Authority on behalf of Bridgeport Hospital on rating watch positive, citing its pending absorption into the Yale New Haven Health System.
Fitch rates the bonds A. The rating agency expects the transaction to close in June, concurrent with the closing of Yale New Haven's Series 2014 financing.
"Resolution of the rating watch will be tied to the completion of the pending transaction," Fitch said in a May 28 report. "Upon closing of the transaction, it is expected that BH will become a member of [Yale New Haven's] obligated group, which Fitch views positively.
Bridgeport Hospital, located in Connecticut's most-populous city, has 383 licensed beds with an additional 42 licensed beds under Yale New Haven Children's Hospital license.
