Fitch assigns 'AA-' rating to McLaren Health Care's bonds

Fitch Ratings assigned its "AA-" rating to Grand Blanc, Mich.-based McLaren Health Care's $300 million series 2018 taxable bonds.

Concurrently, Fitch affirmed its "AA-" rating on McLaren's outstanding bonds, affecting about $633 million of debt.

The assignment and affirmation are a result of several factors, including the health system's leading market position, favorable payer mix, low leverage and consistent capital reinvestment. Fitch also acknowledged McLaren's light profitability.

The outlook is stable.

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