At the same time, Fitch assigned an issuer default rating of “AA-” to Providence St. Joseph Health’s obligated group.
The assignments are a result of the health system’s dominant market position, demographically favorable service areas, growing operating margin and improved leverage profile. Fitch also acknowledged the health system’s increased capital expenditures.
The outlook is stable.
More articles on healthcare finance:
15 hospitals seeking RCM talent
Children’s Mercy Kansas City receives two record-breaking gifts totaling $150M
Massachusetts community hospital posts 32nd consecutive operating surplus in FY 17