Moody's affirms A2 rating on Community Health Network's (IN) $381.1 million of Series 2012A fixed rate bonds in conjunction with updated plan of finance; Outlook is positive

Posted on: October 9, 2012, 3:24 pm

NEW YORK, October 09, 2012 --Moody's Investors Service has affirmed the A2 rating on Community Health Network's (CHNw) $381.1 million of fixed rate Series 2012A bonds to be issued by the Indiana Finance Authority. The rating outlook is positive. This report reflects an update to the plan of finance resulting in an increase in the amount of the Series 2012A bonds to $381.1 million from $250.6 million and the advanced refunding of Series 2005A fixed rate bonds. The impact of the change is immaterial to the rating outcome; however, there is a slight positive effect on debt coverage ratios. Cash-to-debt is 95%, maximum annual debt service coverage is 5.9 times and debt-to-cash flow is 3.6 times...

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