Moody's affirms Sarasota County Public Hospital District's 'A1' rating

Moody's Investors Service has affirmed the "A1" rating on Sarasota County (Fla.) Public Hospital District's $180 million of outstanding fixed rate bonds.

The rating affirmation was based on a number of factors, including SCPHD's strong financial performance and improving debt coverage metrics, increasing absolute and relative liquidity, leading market share and growing volumes, according to Moody's.

SCPHD also faces challenges, which were considered for the rating affirmation, such as the anticipated rise in capital spending, partly from the construction of a 100-bed green field hospital (upon receipt of certificate of need approval) and comprehensive cancer center on the main campus.

The hospital district's outlook is stable, which reflects Moody's expectation "that the organization's financial performance will continue at favorable levels with an ability to absorb the increase in debt and capital spending.”


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