Fitch Ratings has affirmed the "BBB" rating on $46 million of Kenedy, Texas-based Karnes County Hospital District's series 2014 bonds.
The rating affirmation is based on several factors, including the significant benefit KCHD receives from its ability to levy property taxes.
The rating could be pressured if the construction of KCHD's replacement facility exceeds budget or lags further behind schedule.
The rating outlook is stable.