Fitch Ratings has affirmed the "A+" rating on series 2013A, 2010A, 2008A and 2008B, C, D and E bonds issued on behalf of New York City Health and Hospitals.
The rating affirmation of the 11-hospital system's bond rating was supported by a number of factors, including its "lockbox structure," which involves the system setting aside the first revenues it receives each month for debt service payments.
NYCHH also faces some challenges, which were considered for the rating affirmation, such as having 60 percent of its gross patient services revenues come from Medicaid.
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