Fitch Ratings has assigned an "A-" long-term rating to East Stroudsburg, Pa.-based Pocono Health System's $59.5 million of series 2016 bonds.
The rating has been placed on Rating Watch Evolving, reflecting the pending merger between PHS and Allentown, Pa.-based Lehigh Valley Health Network.
Fitch also downgraded PHS' rating to "A-" from "A" on $91 million of PHS' bonds. The downgrade reflects PHS' decreased operating profitability.