Fitch Affirms Abington Health's Rating, Outlook Stable

Fitch Ratings has affirmed the "A" rating for revenue bonds issued on behalf of Abington (Pa.) Memorial Hospital.

The "A" rating was affirmed for the following revenue bonds:

  • $138,415,000 fixed rate bonds series 2012A
  • $135,180,000 fixed rate bonds series 2009A
  • $11,490,000 fixed rate bonds series 1993A

The bonds are secured by a gross revenue pledge by Abington, which included Abington Memorial Hospital, Abington Health Foundation and Lansdale (Pa.) Hospital.

Abington has several strengths supporting its rating and its stable outlook. As of March 31, Abington had unrestricted cash and investments that totaled $638 million, equating to 321 days cash on hand.

More Articles on Hospital Credit Ratings:

Fitch Upgrades Universal Health Services Ratings, Revises Outlook to Stable 
Moody's Downgrades King's Daughters' Medical Center, Outlook Negative
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