S&P affirms 'A+' rating on St. Clair Memorial Hospital of Pittsburgh

S&P Global Ratings affirmed its "A+" rating on St. Clair Memorial Hospital of Pittsburgh's series 2012 revenue bonds.

The affirmation is a result of several factors, including the hospital's solid market share in a competitive service area, healthy patient volume trends, modest debt burden and stable operating margin. S&P also acknowledged the hospital's weak regional demographics and heavy reliance on a single payer.

The outlook was revised to positive from stable.

"The outlook revision reflects St. Clair's strong profitability, excellent debt service coverage, solid liquidity position, and clarity on upcoming plans for capital spending," said S&P Global Ratings credit analyst Margaret Carr.

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