Fitch gives A+ rating to pending $669M Yale New Haven Health bond issuance; $333M will be used for capital spending

Fitch Ratings said Tuesday it has assigned A+ ratings to $669 million in bonds that will be issued on behalf of Yale New Haven Health (YNHH). Proceeds from the bond issuance are expected to be used to refund the health system’s existing debt, as well as to provide approximately $333 million to support Yale New Haven’s capital spending program. Fitch outlined several major capital projects Yale New Haven Health has underway or planned, including an $840 million neurosciences center on the St. Raphael campus. Its other major capital project under evaluation is a comprehensive outpatient center in Meriden. Most other capital spending will be directed at infrastructure improvements, technology and equipment needs, and additional ambulatory access centers, according to Fitch. The A+ rating is further supported by Fitch’s view that the system has sufficient funds available to support completing its large tower expansion project that includes a neurosciences center.

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