Boston Medical Center
NAME: Boston Medical Center
BONDHOLDER SECURITY: Revenue pledge secures the bonds in addition to a mortgage on two certain properties and a negative mortgage on two other properties.
USE OF BOND PROCEEDS: Refinance series 2008 B debt, fund certain campus related redesign and project needs, and pay costs of issuance.
RATINGS: Baa2 (Moody’s)
OBLIGOR PROFILE: BMC is the largest safety net provider with high Medicaid and uninsured patient volume, in its region with City of Boston, Commonwealth and federal supplemental funding support. BMC is an academic medical center affiliated with Boston University and located adjacent to BU medical School. It’s located in the South End neighborhood of Boston. Approximately 67% of BMC patients come from Suffolk County as the institution’s primary service area (“PSA”). 2015 Pro-forma debt service coverage is 2.36x. Days of cash on hand June 2016 stands at 149.
Although this information is obtained from sources believed to be reliable, we cannot guarantee its completeness or accuracy. For complete information regarding these bonds, please review the Official Statement, which can be provided upon request. Investing in bonds involves risk including possible loss of principal. Income may be subject to state, local, or federal alternative minimum tax. Offerings are subject to prior sale and market conditions. Bonds are subject to availability and price fluctuations. As with any investment, market values may fluctuate during the period the bonds are held. For specific yield and suitability of this offering, please contact your R. Seelaus & Co. Financial Advisor at 1-800-922-0584. Securities are offered through R. Seelaus & Co. 25 Deforest Ave. Suite 304, Summit, NJ 07901 Member FINRA/SIPC