November 2001

Fall 2001 Financing Well Received

Catholic Health Initiatives’ fall 2001 financing successfully closed on October 17. The composite tax-exempt financing of $351 million was issued through three states.

The bonds were issued at a fixed rate and pricing was favorable relative to market conditions. In conjunction with the issue, the Catholic Health Initiatives credit ratings of AA-/Aa3 were affirmed by three rating agencies.

"The Catholic Health Initiatives financing was the first large health care issue in the market after the September 11 attacks," said Geraldine Hoyler, CSC, senior vice president of finance and treasury. "The issue was extremely well received due to both the credit quality of Catholic Health Initiatives and the improved credit posture of the health care sector as a whole."