S&P Global Ratings assigned an "AA-" rating to Kansas City-based Kansas Hospital Authority's $198.78 million of series 2017A health facilities improvement revenue bonds.
The ratings agency also affirmed the long-term and underlying ratings on the hospital authority's revenue bonds and the "AAA/A-1+" dual rating on its variable-rate demand bonds.
"KUHA's market presence is exceptionally strong, characterized by its dominant market share in a large primary service area, strong and growing patient volume activity given its unique high-end specialty service offerings and its position as the region's academic medical center," S&P analyst Kevin Holloran said.
The outlook is stable, reflecting S&P Global Ratings' view the hospital authority will maintain its "strong credit fundamentals, good enterprise profile and solid business position," for the two-year outlook period, said Mr. Holloran.