Fitch affirms 'AA-' rating on Lakeland Hospitals' bonds

Fitch Ratings affirmed the "AA-" long-term rating on St. Joseph, Mich.-based Lakeland Hospitals' bonds issued for the health system's Niles, Mich., and St. Joseph, Mich., locations.

The bonds include:

  • $28.4 million of variable-rate demand revenue series 2002 bonds
  • $27.9 million of variable-rate demand revenue series 2003 bonds
  • $41.1 million of variable-rate demand revenue series 2006 bonds

The ratings affirmation is based on a number of factors, including the health system's solid financial profile and leading market position, according to Fitch.

The outlook is stable.

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