Fitch Ratings assigned an "AA-" rating to St. Louis-based SSM Health's $500 million of series 2017A taxable revenue bonds.
Fitch also affirmed the "AA-" rating on the health system's approximately $837 million of outstanding bonds and affirmed the "F1+" short-term rating on SSM Health's commercial paper program and bonds supported by the system's internal liquidity.
The ratings assignment is based on a variety of factors, including the health system's compressed profitability, broadened operating platform and manageable debt burden.
The outlook was revised to negative from stable.