Fitch Ratings affirmed its "BBB+" rating on Frederick (Md.) Memorial Hospital's series 2012A revenue bonds, affecting $97.1 million of debt.
The affirmation is a result of several factors, including the hospital's strong market position, stable liquidity metrics and light debt burden. Fitch also acknowledged FMH's recently suppressed operating margin and high capital spending in fiscal year 2017.
The outlook is stable.