S&P has also affirmed its “A-” long-term rating and underlying rating on the NCHD’s parity debt and removed the rating from CreditWatch.
“The removal of the rating from CreditWatch reflects our analysis of the updated bond resolution, which transfers all rights, title and interest of the pledged revenue to a trust for the benefit of the bondholders,” said S&P credit analyst Jennifer Garza.
The outlook is stable, reflecting S&P’s anticipation that the district’s pledged sales tax revenue will continue to provide adequate debt service coverage.
More hospital outlook and credit rating actions:
Moody’s downgrades Good Samaritan Hospital’s rating to ‘Baa2’
Fitch assigns ‘AA’ rating to Advocate Health Care’s bonds
11 recent hospital outlook and credit rating actions
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