Fitch Takes Various Rating Actions on Enhanced Variable Rate Muni Bonds
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NEW YORK--(Business Wire)-- In connection with the March 25 downgrade of Regions Bank's long-term Issuer Default Rating (IDR) and affirmation of Regions Bank's short-term IDR, Fitch Ratings downgrades the long-term rating and affirms the short-term rating of municipal bonds with letters of credit provided by Regions Bank. The long-term ratings of the following bonds are downgraded to 'A', Rating Outlook Stable from 'A+', Rating Outlook Negative and the short-term ratings are affirmed at 'F1': --Dade County Health Facilities Authority (FL) (Miami Children's Hospital) hospital revenue bonds series 2006B-4; --Guilford County Industrial Facilities & Pollution Control Financing Authority (NC) (Quantum Group, Inc.) industrial devel revenue bonds series 2000; --Johnson City Health & Educational Facilities Board (TN) (Mountain States Health Alliance) hospital revenue bonds series 2007A; --Johnson City Health & Educational Facilities Board (TN) (Mountain States Health Alliance) hospital revenue bonds series 2007B; --Johnson City Health & Educational Facilities Board (TN) (Mountain States Health Alliance) hospital revenue bonds series 2008A; --Louisiana Public Facilities Authority (LA) (Tiger Athletic Foundation Project) revenue bonds series 1999; --Louisiana Public Facilities Authority (LA) (Tiger Athletic Foundation Project) revenue bonds series 2004; --Russell County Industrial Development Authority (VA) (Mountain States Health Alliance) hospital revenue bonds series 2008B; --Smyth County Industrial Development Authority (VA) (Mountain States Health Alliance) hospital revenue bonds series 2007C; --Tippecanoe County (IN) (Faith Properties, Inc.) adjustable-rate demand revenue bonds series 2005. Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site. Fitch Ratings, New York Richard Park, 212-908-0289 Sarah Repucci, 212-908-0726 or Media Relations: Cindy Stoller, 212-908-0526 Email: cindy.stoller@fitchratings.com Copyright Business Wire 2009
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