Fitch Ratings has affirmed the "BBB+" rating assigned to $30.3 million of series 2013A fixed-rate bonds and $30 million of series 2008B fixed-rate bonds issued by the Industrial Department of Authority of the County of Yavapai (Ariz.) on behalf of Yavapai Regional Medical Center.
YRMC's outstanding debt of $103.3 million, along with non-rated 2013B, 2002 and 1997B bonds outstanding, is also incorporated into the analysis.
The rating affirmation was supported by a number of factors, including the hospital's sustained trend of improved financial performance, dominant market position, solid liquidity and sound debt metrics.
The rating outlook is revised from stable to positive. Fitch said the positive outlook reflects its expectation "that upward rating movement is likely over the next one to two years if the improved financial performance is sustained."
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