Fitch Ratings affirmed its "BB+" rating on Loma Linda (Calif.) University Medical Center's series 2014A, 2014B and 2016A revenue bonds.
Concurrently, Fitch assigned LLUMC an issuer default rating of "BB+."
The assignment and affirmation are based on LLUMC's reputation as an academic medical center specializing in tertiary and quaternary services. Fitch also acknowledged the medical center's highly leveraged balance sheet, low liquidity metrics, challenging market and ongoing campus transformation project.
The outlook is stable.