S&P Global Ratings has assigned an "AA" rating to Arlington-based Texas Health Resources' $625 million of series 2016A bonds.
"The 'AA' rating reflects our view of Texas Health's operating results and good pro forma maximum annual debt service coverage of 4.4 times in fiscal 2016, excellent operational liquidity of over 400 days' cash on hand on a pro forma basis, leading market share in the rapidly growing Dallas-Fort Worth metropolitan area marketplace and highly capable management team," said S&P analyst Kevin Holloran.
The outlook is stable, reflecting S&P's anticipation that Texas Health Resources will continue its track record of solid operations.