Fitch upgrades bond rating for Catholic Health Services of Long Island to 'A-'

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. 

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