Fitch Ratings affirmed its "BBB+" rating on Madison, Ind.-based King's Daughters' Health's series 2010 revenue bonds, affecting $93.8 million of debt.
The affirmation is a result of several factors, including the health system's solid liquidity growth, healthy operating margins and strong market position. Fitch also acknowledged the health system's heavy debt burden in comparison to peers.
The rating outlook was revised to positive from stable.