At the same time, S&P assigned its “AA-” rating to Mercy Health’s proposed $300 million series 2017C revenue bonds.
The outlook was revised to stable from negative.
“The outlook revision reflects our view of Mercy’s improved operating performance in audited fiscal 2017, coupled with our view that Mercy will be able to absorb the initial operating losses at [St. Louis-based] St. Anthony’s Medical Center given Mercy’s improved operating track record in fiscal years 2016 and 2017,” said Suzie Desai, an S&P Global Ratings credit analyst.
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