Bonds for McLeod Regional in South Carolina Rated AA- With Outlook Stable
June 08, 2010
Fitch Ratings has assigned an AA- rating with outlook stable to McLeod Regional Medical Center in Florence, S.C., for a total of $127 million in new bonds, according to a release from Fitch.
Although the 371-bed hospital operates in "a competitive and somewhat economically depressed area," it has been "a consistently strong operator," generating "steady measurable growth in liquidity via consistent and solid operating cash flow," Fitch stated.
McLeod is the primary provider of tertiary medical services within a 12-county service area. It has consistently generation of operating profitability and cash flow and has demonstrated consistent top-line revenue growth, averaging 7 percent a year from 2005-2009.
Read the Fitch Ratings release on McLeod Regional Medical Center.
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