S&P revises Verity Health System's outlook to stable

Standard & Poor's Ratings Services has revised Redwood City, Calif.-based Verity Health System's outlook to stable from negative.

Verity was previously known as Daughters of Charity Health System.

"The outlook revision reflects a more stable financial profile following the Dec. 14, 2015 change of control transaction that transferred management responsibility for most DCHS assets to BlueMountain Capital Management with management services provided by a BlueMountain subsidiary, Integrity Healthcare," said S&P credit analyst Cynthia Keller.

S&P also affirmed the "CCC" rating on Verity's series 2005A, 2005F, 2005G and 2005H fixed rate bonds, affecting $279 million.

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