Fitch affirms Maine Line Health System's bond rating

Fitch Ratings has affirmed the 'AA' rating assigned to $152.4 million of series 2010A bonds and $56.8 million of series 2012A bonds issued on behalf of Maine Line Health System, which operates four acute-care hospitals and one rehabilitation facility throughout Chester, Delaware, Montgomery and Philadelphia counties in Pennsylvania.

The rating affirmation was supported by a number of factors, including MLHS's strong financial profile and low debt burden. The system's maximum annual debt service was at 1 percent of total revenues in fiscal 2014.

The rating affirmation was also supported by MLHS's 46.4 percent market share, which is the leading market share in its primary service area.

The system also faces some challenges, which were considered for the rating affirmation, including operating in a competitive environment with several other health systems.

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