Fitch Ratings has assigned a long-term "AA-" rating to approximately $188 million of series 2014A revenue bonds to be issued on behalf of York, Pa.-based WellSpan Health.
The rating assignment was supported by a number of factors, including WellSpan's integrated business model and leading market position. The system maintains a 60 percent market share in its primary service area.
The rating assignment was also supported by WellSpan's manageable debt burden. As of June 30, the system's long-term debt totaled $468.4 million, with 36 percent of its debt being fixed rate and 64 percent being floating rate.
More articles on hospital and health system credit ratings:
Moody's assigns 'A3' rating to Central Florida Health Alliance's bonds
Moody's revises Methodist Le Bonheaur Healthcare's outlook to stable
Fitch assigns 'AA-' rating to IU Health's series 2014A revenue bonds