Moody's Investors Service has affirmed Irving, Texas-based CHRISTUS Health's "Aa2/VMIG 1" letter of credit-backed series 2008C-1 bonds, affecting $41.44 million of debt.
Moody's has evaluated the bonds based on a joint default analysis. Moody's has determined that the joint probability of default between the bank and the obligor is low, which results in credit risk consistent with a JDA rating of "Aa2."