Fitch Ratings has affirmed the "AA-" rating assigned to approximately $1.4 billion in revenue bonds issued on behalf of Sisters of Charity of Leavenworth Health System in Denver by the Colorado Health Facilities Authority, the Kansas Development Finance Authority, and the Montana Facility Finance Authority and affirmed the system’s stable outlook.
The rating affirmation was supported by a number of factors, including SCLHS' sustained, consistent operating performance since 2011. The health system has produced a 2 percent operating margin and 12 percent operating EBITDA margin through the six month interim period ended June 30.
SCLHS' stead balance sheet, growing unrestricted liquidity, diverse revenue base and near completion of the health system's Saint Joseph facility were also supporting factors of the rating.