S&P also assigned an “A+” long-term rating to PHS’ $100.5 million of series 2016A revenue bonds.
“The rating action reflects our view of PHS’ solid financial performance in fiscal 2015 and through the first three quarters of 2016, supporting a good balance sheet with continued growth in unrestricted reserves,” said S&P credit analyst Allison Bretz.
The outlook is stable, reflecting S&P’s opinion of PHS’ stable market position, year-over-year net patient revenue growth and adequate balance sheet metrics.
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