Caritas: Ascension committed to deal
Caritas Christi Health Care said Ascension Health of St. Louis remains committed to investing in the six-hospital chain, which is owned by the Archdiocese of Boston. Caritas Christi said it is still planning to refinance its existing debt of about $250 million, and that Ascension will buy $100 million of additional bonds to pay for expansions and new equipment.
The finance deal is expected to proceed when conditions improve in the credit markets, Caritas Christi said.
In a statement, Ascension said, "Caritas Christi has chosen not to issue bonds at this time because of financial market conditions. However, Ascension Health's intention to invest in the bonds when they are issued has not changed."
Ascension is the nation's largest nonprofit healthcare provider. Caritas Christi is Massachusetts' second-largest hospital system. 