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.