KBRA Releases Research Report – Texas Hospital Districts: A Rating Approach That Reflects Texas Law

NEW YORK–(BUSINESS WIRE)–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)


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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.


Contacts

Analytical Contacts:


Cindy Wu, Senior Director(646) 731-2304cwu@kbra.com


Peter Giacone, Senior Director(646) 731-2407pgiacone@kbra.com


William Cox, Senior Managing Director(646) 731-2472wcox@kbra.com


Karen Daly, Senior Managing Director(646) 731-2347kdaly@kbra.com