Fitch Ratings assigned its "A+" rating to Lexington (S.C.) Medical Center's proposed $142.2 million series 2017A bonds.
At the same time, Fitch affirmed its "A+" rating on LMC's series 2016, series 2011 and series 2007, affecting $382.4 million of debt.
The assignment and affirmation are a result of several factors including LMC's strong surgical and medical volume growth, successful expansion strategy and solid profit margins. Fitch also acknowledged the medical center's elevated capital spending during the expansion period.
The outlook is stable.