Fitch Ratings has assigned an "AA" rating to approximately $398.8 million series 2016A, B and C revenue bonds issued on behalf of Altamonte Springs, Fla.-based Adventist Health System Sunbelt Obligated Group by the Colorado Health Facilities Authority.
The rating was based on a number of factors, including the system's strong operating profitability margins, which consistently exceed the "AA" medians and are considered a key credit strength. Adventist has maintained days cash on hand at or above 220 days despite making significant investments in facilities and programs, according to Fitch.
The system's rating outlook is stable.
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