Fitch upgrades Holy Redeemer Health System's bonds to 'BBB'

Fitch Ratings has upgraded the rating to "BBB" from "BBB-" on the following bonds issued by Meadowbrook, Pa.-based Holy Redeemer Health System.

  • $30 million of series 2006A bonds
  • $46.3 million of series 2014A bonds

The rating outlook is stable.

The rating upgrade and stable outlook are based on a number of factors, including HRHS' coverage of consolidated system debt, strong liquidity position and adequate profitability.

These factors are offset by Fitch's concern over a HRHS' location in a competitive service area and its high exposure to governmental payers.

More hospital outlook and credit rating actions:
Moody's downgrades Good Samaritan Hospital's rating to 'Baa2'
Fitch assigns 'AA' rating to Advocate Health Care's bonds
11 recent hospital outlook and credit rating actions

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