Fitch Ratings affirmed its "BBB-" rating on Marshall, Mich.-based Oaklawn Hospital's $63.5 million series 2016 revenue bonds. Concurrently, Fitch assigned the hospital an issuer default rating of "BBB."
The affirmation and assignment are based on several factors, including the hospital's leading local market position, adequate financial profile and expected margin improvement in fiscal year 2019. The hospital has a modestly elevate leverage position, Fitch said.
The outlook was revised to positive from stable, reflecting Fitch's expectation that the hospital will see a stronger operating performance in 2019, which will help improve its leverage position.