S&P Global Ratings assigned its "AA-" rating to Sacramento, Calif.-based Sutter Health's proposed $700 million series 2018A revenue bonds.
Concurrently, S&P assigned its long term "AA-" rating to Sutter Health's $684.5 million series 2018A revenue refunding bonds. Additionally, S&P affirmed its long term and underlying rating of "AA-" on Sutter Health's existing debt.
The affirmation and assignments are a result of several factors, including the health system's strong market share, stable utilization, improving balance sheet, conservative debt structure and successful management of numerous capital projects over the past few years.
The outlook is stable, reflecting the health system's very strong enterprise profile and generally consistent financial performance.