KBRA Releases Research Report – Texas Hospital Districts: A Rating Approach That Reflects Texas Law
NEW YORK--(BUSINESS WIRE)--May 7, 2019--Kroll Bond Rating Agency (KBRA) releases its Texas Hospital Districts: A Rating Approach That Reflects Texas Law research report, following the U.S. First Circuit Court of Appeals ruling on March 26 to uphold Judge Swain’s decision regarding special revenue provisions of the Bankruptcy Code. Despite this judicial development, KBRA notes that the specific language within state law is a key consideration for how special revenues are treated in a bankruptcy.
In this report, KBRA highlights the legal structures—as evidenced in the Gainesville Hospital District bankruptcy case—that protects limited tax general obligation bondholders from any disruptions in scheduled interest or principal on the bonds.
To access this research report, please click here.
Related Publications: (available at www.kbra.com )
- First Circuit Follies: Puerto Rico Ruling Slams Municipal Investors … Again
- Has Special Revenue Bond Protection Been Turned on Its Head?
CONNECT WITH KBRA
About KBRA and KBRA Europe
KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190507005709/en/
CONTACT: Analytical Contacts:Cindy Wu, Senior Director
firstname.lastname@example.orgPeter Giacone, Senior Director
email@example.comWilliam Cox, Senior Managing Director
firstname.lastname@example.orgKaren Daly, Senior Managing Director
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: HEALTH HOSPITALS PROFESSIONAL SERVICES BANKING FINANCE INSURANCE
SOURCE: Kroll Bond Rating Agency
Copyright Business Wire 2019.
PUB: 05/07/2019 10:24 AM/DISC: 05/07/2019 10:24 AM