Fitch Ratings has upgraded the rating on the following bonds issued by the Miami-Dade Health Facilities Authority on behalf of Miami-based Nicklaus Children's Hospital, formerly known as Miami Children's Hospital.
- $104.4 million of series 2013 fixed rate bonds
- $25.6 million of series 2011 fixed rate bonds
- $40.7 million of series 2010A fixed rate bonds
- $63.2 million of series 2010B privately placed indexed floating rate bonds
The rating upgrade was supported by a number of factors, including the hospital's continued financial strengthening, ongoing construction projects, high Medicaid exposure and its position as a leader in pediatric services.
Fitch expects NCH to continue to sustain its financial performance.
The outlook is stable.