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ORHS |
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ORHS has been able to capitalize on the favorable population trends by investing in its plant with total capital spending of over $430M over the last three fiscal years. Proceeds of the series 2006 bonds will be used to advance refund the outstanding series 2002 bonds, reimburse ORHS for prior capital expenditures ($44 million), fund future capital expenditures ($34 million), establish debt service reserves, and pay costs of issuance. ORHS has a 50% ownership of SLH and provides management and business support as well as a guarantee on SLH's series 1999 bonds, which Fitch continues to view positively. |
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