S&P Global Ratings has assigned an "AA" rating to Hollywood, Fla.-based Memorial Healthcare System's $180 million of series 2016A healthcare revenue refunding bonds.
"The rating reflects [Memorial Healthcare System's] continued strong operating performance and cash flow, which has contributed to solid balance sheet growth, including high unrestricted reserves and light pro forma debt," said S&P analyst Stephen Infranco.
The outlook is stable, reflecting S&P's expectation that Memorial Healthcare System will maintain its solid enterprise profile and continue to generate strong earnings and cash flow.