Fitch Withdraws Rating on Carroll Hospital Center (Maryland)

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has withdrawn the 'BBB+' ratings on the following Maryland Health & Higher Educational Facilities Authority bonds issued on behalf of Carroll Hospital Center (CHC):

--$58,265,000 revenue bonds, series 2012A;

--$35,000,000 revenue bonds, series 2006.

KEY RATING DRIVERS

On April 1, 2015, LifeBridge Health, Inc. (LBH) became the sole corporate member of CHC's parent organization - Carroll County Health Services Corporation. On May 1, 2015, LBH and CHC combined their respective obligated groups and substituted the CHC Master Loan Agreement with the LBH Master Loan Agreement. Fitch does not rate LBH and will no longer have sufficient information to maintain ratings on the above referenced bonds.

RATING SENSITIVITIES

The 'BBB+' rating on the series 2012A and series 2006 bonds is being withdrawn. As such, the rating sensitivity is not applicable.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria

Revenue-Supported Rating Criteria (pub. 16 Jun 2014)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=750012

U.S. Nonprofit Hospitals and Health Systems Rating Criteria (pub. 09 Jun 2015)https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=866807

Additional Disclosures

Dodd-Frank Rating Information Disclosure Formhttps://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=987612

Solicitation Statushttps://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=987612

Endorsement Policyhttps://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE '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 MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150708006245/en/

Fitch Ratings
Primary Analyst:
Gary Sokolow, +1-212-908-9186
Director
Fitch Ratings, Inc.
33 Whitehall St.
New York, NY 10004
or
Secondary Analyst:
Stephen Friday, +1-212-908-0384
Associate Director
or
Committee Chairperson:
James LeBuhn, +1-312-368-2059
Senior Director
or
Sandro Scenga, +1-212-908-0278
Media Relations, New York
[email protected]

Source: Fitch Ratings

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