Stamford (Conn.) Health has had its overall rating and that on specific bonds affirmed at "BBB+" as it looks forward to increasing financial strength over the next five years, Fitch Ratings said Feb. 7.
The rating confirmation comes shortly after the health system, centered around the 305-bed Stamford Hospital, reported positive operating income of $4.9 million for the fiscal year ended Sept. 30. Overall net loss for the year totaled approximately $38 million.
The system's strong market share, which includes a 76 percent share in its primary service area, will also continue to support Stamford over the next several years, as will its partnership agreements with facilities including New York City-based Hospital for Special Surgery, Fitch said.
"The rating is further supported by Stamford's dominant market position in a good primary service area with a very strong demographic profile," Fitch said.