Concurrently, S&P raised its underlying rating on Freeman Health’s series 1999B and 1999C bonds to “A” from “A-.”
“We raised the rating based on Freeman’s credit quality, given its steady balance sheet improvement and robust operating performance exhibited in recent years,” said S&P credit analyst Patrick Zagar.
S&P also acknowledged Freeman Health System’s light cash on hand levels.
The outlook is stable.
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