7 recent hospital, health system outlook and credit rating actions - July 21, 2017

Courtesy of Becker’s Hospital Review

Written by Alia Paavola

The following hospital and health system rating and outlook changes and affirmations took place in the last week, beginning with the most recent.

1. Moody’s affirms ‘A1’ rating on Munson Healthcare
Moody’s Investors Service affirmed the “A1” rating on Traverse City, Mich.-based Munson Healthcare’s revenue bonds issued by the Grand Traverse County Hospital Authority, affecting $155 million of debt.

2. S&P downgrades North Broward Hospital District’s bond rating to ‘BBB+’
S&P Global Ratings downgraded the rating on Fort Lauderdale, Fla.-based Broward Hospital District’s series 2005A, 2007 and 2008A variable-rate revenue bonds to “BBB+” from “A-.”

3. Fitch affirms ‘AA-‘ on SCL Health’s revenue bonds
Fitch Ratings affirmed the “AA-” rating on Broomfield, Colo.-based SCL Health’s revenue bonds issued by the Colorado Health Facilities Authority, Kansas Development Finance Authority and Montana Facility Finance Authority, affecting $1.3 billion of outstanding debt.

4. Moody’s revises Agnesian HealthCare’s outlook to negative
Moody’s Investors Service assigned its “A2” rating to Fond du Lac, Wis.-based Agnesian HealthCare’s proposed $58 million series 2017 revenue bonds to be issued by the Wisconsin Health and Educational Facilities Authority. The expected sale date is July 27.

5. Fitch affirms ‘BBB’ rating on Methodist Hospitals’ revenue bonds
Fitch Ratings affirmed its “BBB” rating on Gary, Ind.-based The Methodist Hospitals’ series 2014A revenue refunding bonds issued by the Indiana Finance Authority.

6. Fitch affirms ‘AA’ rating on Texas Children’s Hospital’s
Fitch Ratings affirmed the “AA” rating on a number of Houston-based Texas Children’s Hospital’s revenue bonds, including series 2015-1, series 2015-3, series 2015-4, series 2010, series 2009 and series 2008-2, all issued by the Harris County Cultural Education Facilities Finance Corp. These rating actions affect a total of $683 million of debt.

7. Moody’s affirms ‘Baa1’ rating on Cooper Health System
Moody’s Investors Service affirmed its “Baa1” rating on Camden, N.J.-based Cooper Health System’s revenue bonds issued by the Camden County Improvement Authority and New Jersey Economic Development Authority, affecting $240 million of outstanding debt.

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