Moody's Investors Service affirmed its "A1" rating on Sarasota (Fla.) County Public Hospital District's outstanding bonds, affecting $192 million of debt.
The affirmation is based on several factors, including the hospital district's favorable financial performance, solid debt service coverage, strong market position and growing relative liquidity measures. Moody's also acknowledged the district's upcoming construction project that will require increased capital spending.
The outlook is stable reflecting Moody's expectation that the hospital district will maintain a strong financial performance to offset the increased capital spending.
Sarasota County Public Hospital District is a full-service health system that includes an 829-bed regional medical center.