S&P revises Bayhealth Medical Center's outlook to positive

S&P has affirmed its "A+" rating on series 2009A revenue bonds issued on behalf of Dover, Del.-based Bayhealth Medical Center by the Delaware Health Facilities Authority and revised its outlook on Bayhealth to positive from stable.

"The outlook revision reflects our view of Bayhealth's continued solid operating performance, albeit slightly lighter than in prior years; strong balance sheet; and further clarity on its Milford (Del.) Memorial Hospital replacement facility project," said S&P analyst Margaret McNamara.

S&P expects Bayhealth's cash flow to remain solid over the next several years, allowing it to replenish its balance sheet as it spends on the new facility.

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