Louisville, Ky.-based Norton Healthcare has been assigned an "A+" rating on new debt totaling $166 million, which is related to capital expenditure projects, Fitch said July 12.
About half of the soon-to-be-issued bonds will be spent on prior capital projects and the other half for current and future construction plans, Fitch said.
"The 'A+' long-term rating reflects Fitch's view of Norton's position as the leading acute care provider in its primary service area, its historically strong and consistent operations, and a steadily improving financial profile," according to the note.
Norton Healthcare, a six-hospital system, had $3.6 billion in total revenue in fiscal 2022, according to Fitch.