Fitch Ratings assigned its "A+" issuer default rating to Covington, La.-based St. Tammany Parish Hospital Service District No.1.
Concurrently, Fitch assigned its "A+" rating to St. Tammany's series 2018A and 2018B revenue and refunding revenue bonds, affecting about $81.1 million of debt. Further, at this time, Fitch upgraded St. Tammany's parity debt to "A+" from "A."
The upgrade and assignment are a result of the hospital district's leading inpatient market share, favorable payer mix, strong operating margins and stable cash flow.
The outlook was revised to positive from stable, reflecting St. Tammany's strengthening credit profile.