The rating assignment was supported by a number of factors, including HCA’s solid liquidity profile.
The hospital operator’s manageable debt maturities also supported the rating assignment. Fitch believes “HCA’s favorable operating outlook and financial flexibility afford the company good market access to refinance the upcoming maturities.” HCA’s large maturities include $900 million and $1 billion of HCA unsecured notes in 2015 and 2016, respectively, and $1.2 billion of bank term loans maturing in 2016.
As of Sept. 30, 2014, the hospital operator’s total debt was approximately $28.5 billion.
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