The following hospital and health system rating and outlook changes and affirmations took place during the past week, starting with the most recent.
1. Moody's upgrades Trinitas Regional Medical Center's bond rating
Moody's Investors Service upgraded Elizabeth, N.J.-based Trinitas Regional Medical Center's bond rating to "Baa2" from "Baa3," affecting $124.6 million of debt.
2. Fitch rates Partners HealthCare System's bonds
Fitch Ratings assigned "AA" ratings to $250 million of series 2015 taxable bonds and $330 million of series O revenue bonds issued on behalf of Boston-based Partners HealthCare System.
3. Cottage Health System to use $100M of bond proceeds for capital expenditures
Fitch Ratings assigned an "AA-" rating to approximately $135 million of series 2015 revenue bonds issued on behalf of Santa Barbara, Calif.-based Cottage Health System, with $100 million of the proceeds to be used to fund future capital expenditures at 450-bed Santa Barbara Cottage Hospital.
4. Fitch upgrades ratings on Concord Hospital's bonds to 'A+'
Fitch Ratings upgraded the rating on $46.7 million of series 2013A revenue bonds and $37.4 million of series 2011A revenue bonds issued on behalf of Concord (N.H.) Hospital and subsidiaries to "A+" from "A."
5. Moody's: Baylor Scott & White Health's outlook is no longer negative
Moody's Investors Service affirmed the "Aa3" and "Aa3/P-1" ratings on Dallas-based Baylor Scott & White Health's outstanding bonds and revised the system's outlook to stable from negative.
6. Seattle Children's Hospital to use $54M from bond issuance for capital expenditures
Fitch Ratings assigned an "AA" rating to Seattle Children's Hospital's series 2015A revenue bonds. The proceeds from the bonds will provide approximately $54 million for future capital expenditures and $46 million for reimbursement of prior capital expenditures.
7. Moody's rates Spectrum Health System's revenue refunding bonds
Moody's Investors Service assigned an "Aa3/P-1" rating to Grand Rapids, Mich.-based Spectrum Health System's $78.4 million of series 2015A variable rate revenue refunding bonds.
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