Fitch assigns 'AA-' rating to Bayhealth Medical Center's bonds

Fitch Ratings assigned its "AA-" rating to Dover, Del.-based Bayhealth Medical Center's proposed $107 million series 2017A bonds.

The assignment is a result of several factors, including the medical center's solid profit margins, ample liquidity metrics and dominant market position. Fitch also acknowledged that BMC's $314 million capital project — which includes a replacement hospital, ambulatory center and outpatient center — remains on track.

The bonds were placed on Rating Watch Positive as a result of Fitch's revised criteria for nonprofit hospitals and health systems. 

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