Fitch Ratings has upgraded the rating on Neptune, N.J.-based Meridian Health System's bonds to "A+" from "A."
The rating upgrade applies to the following bonds:
- $26.2 million of series 2013A refunding bonds
- $164.7 million of series 2011 bonds
- $139.4 million of series 2007 revenue bonds
- $16.1 million of series 2006 bonds
- $11.6 million of series 2004 A-3 variable rate composite revenue bonds
- $60 million of series 2003A bonds
The system's strengths were considered for the rating upgrade, including its strengthened financial profile and its large clinical footprint in its primary service area.
Meridian Health System also faces some challenges, which were considered for the rating action, such as operating in a competitive primary service area.
More articles on healthcare finance:
Healthcare executives predict 2015 will be a year of financial growth
Fitch: SGR replacement reinforces move toward value-based care
Florida governor to sue feds for withholding hospital funding