Fitch Ratings affirmed the "AA-" long-term rating on St. Joseph, Mich.-based Lakeland Hospitals' bonds issued for the health system's Niles, Mich., and St. Joseph, Mich., locations.
The bonds include:
- $28.4 million of variable-rate demand revenue series 2002 bonds
- $27.9 million of variable-rate demand revenue series 2003 bonds
- $41.1 million of variable-rate demand revenue series 2006 bonds
The ratings affirmation is based on a number of factors, including the health system's solid financial profile and leading market position, according to Fitch.
The outlook is stable.