Fitch Ratings assigned its "AA-" rating to Traverse City, Mich.-based Munson Healthcare's proposed $18.7 million series 2019A and $14 million series 2019B revenue bonds.
Concurrently, Fitch assigned its "AA-" issuer default rating to the health system and affirmed its "AA-" rating on Munson's outstanding debt.
The assignment and affirmation are based on several factors, including the health system's leading market share, favorable demographic area, strong operating cost flexibility and healthy net leverage position.
The outlook was revised to positive from stable.
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