S&P upgrades HealthEast Care System's bond rating to 'A+'

S&P Global Ratings upgraded the rating to "A+" from "BBB+" on St. Paul, Minn.-based HealthEast Care System's series 2017A bonds, issued by the Redevelopment Authority of the City of Saint Paul.

Additionally, S&P affirmed its  "A+" rating on Minneapolis-based Fairview Health Services revenue bonds issued by the City of Minneapolis.

"The rating reflects our view of Fairview, as it has acquired HealthEast and Grand Itasca," said Brian Williamson, an S&P Global Ratings credit analyst. Fairview Health Services is issuing bonds to refinance the acquired hospitals' debt. 

The outlook is stable, reflecting S&P's expectation that Fairview will be able to smoothly transition after the acquisitions. 

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