S&P assigns 'A' rating to Covenant Health's bonds

S&P Global Ratings assigned an "A" rating to Knoxville, Tenn.-based Covenant Health's series 2016A bonds.

"The rating reflects our view of Covenant Health's continued improved operations in fiscal 2016," said S&P analyst Brian Williamson.

S&P also affirmed the "A" long-term rating and underlying rating on Covenant Health's series 2006A-1, 2011C and 2012A bonds.

The outlook is stable, reflecting S&P's belief that Covenant Health's operations will not be worse than those of fiscal year 2015.

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