Fitch Ratings assigned Billings (Mont.) Clinic an issuer default rating of "AA-." Concurrently, the credit agency assigned its "AA-" rating on Billings Clinic's series 2018 bonds.
The assignments are based on several factors, including the health provider's leading market position, favorable service area and strong operating margins that lead to solid liquidity growth.
The outlook is stable, reflecting Fitch's expectation that the health system's strong financial profile will offset the cost and risk associated with its upcoming and ongoing construction projects.