Fitch Ratings upgraded Astoria, Ore.-based Columbia Memorial Hospital's series 2012 and series 2016 revenue bonds to "A-" from "BBB-," affecting $45.7 million of debt.
In addition, Fitch assigned its "A-" issuer default rating to CMH.
The upgrade and affirmation are a result of several factors, including CMH's leading market position, solid patient volume growth, robust operating margins and strong liquidity position. Additionally, Fitch positively viewed CMH's clinical affiliation with Portland-based Oregon Health and Sciences University.
The outlook is stable.