In addition, S&P raised the long-term component of its dual rating on series 2009B-D to “AA+/A-1+” from “AA/A-1+.”
“The rating action reflects our view of CHOC’s growing volumes and sharply improved balance sheet, coupled with increased operating income and cash flow over the past year generating over 4 times maximum annual debt service coverage,” said Suzie Desai, an S&P Global Ratings credit analyst.
The long term component upgrade is a result of S&P’s joint-criteria methodology.
The outlook is stable, reflecting CHOC’s strong enterprise profile and improved financial performance.
More articles on healthcare finance:
12 hospitals seeking RCM talent
Biomedical Research Foundation’s lack of cash continues to worry state officials
U of Mass Medical School founds Institute for Rare Diseases Research with $10M gift from Chinese businessman
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.