Leesburg's Bad Medicine

Sigo, Shelly
December 2004
Bond Buyer;12/2/2004, Vol. 350 Issue 32021, p35
Trade Publication
The article reports that Standard & Poor's on Monday lowered its rating to A-minus from A on Leesburg's $108.3 million of outstanding hospital bonds issued on behalf of Leesburg Regional Medical Center. The outlook on all of the debt is negative. The downgrade affects $82.1 million of revenue bonds, Series 1996A. 2002, and 2003, as well as the underlying rating on $26.2 million of insured auction-rate revenue bonds, Series 2001. The AAA rating on the 2001 bonds, based on insurance from Ambac Assurance Corp., remains intact.


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