Fitch upgrades Bayhealth Medical Center to 'AA'

Fitch Ratings upgraded Dover, Del.-based Bayhealth Medical Center's series 2017A to "AA" from "AA-," affecting $112.1 million of debt.

Concurrently, Fitch assigned an "AA" issuer default rating to BMC.

The upgrade is a result of several factors, including BMC's leading market position, favorable payer mix, strong operating performance and low leverage. Fitch also acknowledged the risks associated with the medical center's ongoing construction project.

The rating outlook is stable.

More articles on healthcare finance:
Moody's: Severe flu season will pressure nonprofit hospital margins
U of Texas Health renames cancer center after donors of $25M gift
6 latest hospital credit downgrades

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers