Fitch upgrades Mount Nittany Medical Center to 'AA-'

Alia Paavola - Print  | 

Fitch Ratings upgraded its rating on State College, Pa.-based Mount Nittany Medical Center's outstanding revenue bonds to "AA-" from "A," affecting approximately $196.9 million of debt.

Concurrently, Fitch assigned its "AA-" issuer default rating to MNMC. Additionally, Fitch assigned its "AA-" rating to MNMC's proposed $65.9 million series 2018A and $18.5 million series 2018B revenue bonds.

The upgrade and assignment are a result of several factors, including the medical center's dominant market position, expanding service area, strong operating performance and favorable leverage metrics.

The outlook is stable.

More articles on healthcare finance:
Donations to USC medical school fall 55% after dean, faculty scandals
U of Texas Health renames cancer center after donors of $25M gift
6 latest hospital credit downgrades

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.