The rating action affects $13.5 million of series 2010 bonds, $4.5 million of series 2006A bonds and $18.9 million of series 2006B bonds.
The rating upgrade was supported by a number of factors, including JCSMH’s strong financial profile. In May 2013, the 166-bed hospital defeased $10.5 million of outstanding debt, which reduced JCSMH’s debt burden and enhanced its debt service coverage levels.
The rating upgrade was also supported by the hospital’s dominant market position. JCSMH has a 67 percent market share in its primary service area.
More articles on hospital credit ratings:
Fitch affirms Allina Health’s ‘AA-‘ rating
Moody’s assigns ‘Baa2’ rating on Erlanger Health System bonds, revises outlook
Moody’s affirms ‘Aa3’ rating on Sisters of Charity of Leavenworth Health System’s revenue bonds
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