Fitch Ratings upgraded the rating on New York-based Catholic Health Services of Long Island's bonds to "A-" from "BBB-."
The bonds include:
- $77,481,000 of series 2014A economic assistance corporation bonds
- $45,918,000 of series 2014B economic assistance corporation bonds
- $42,901,000 of series 2014C economic development corporation bonds
- $166,442,000 of series 2011 economic development corporation bonds
- $59,988,000 of series 2011 economic assistance and financing corporation bonds
- $29,673,000 of series 1999B New York state dormitory authority bonds
The ratings upgrade is based on a variety of factors, including CHI's continued operating performance improvement, moderate debt burden and solid liquidity.
The outlook is stable.
Editor's note: This article was updated Mon., March 27. An earlier version of this article misstated that the bond rating change applied to Catholic Health Initiatives. Becker's regrets the error.