S&P Global Ratings assigned its "A-" long-term rating to $525.31 million series 2016A fixed-rate revenue bonds issued on behalf of Louisville, Ky.-based Norton Healthcare by the Louisville & Jefferson County Metropolitan Government.
"The 'A-' rating and outlook on Norton further reflect our assessment of its improved operating income in fiscal 2015 and fiscal 2016 year to date; improved operational liquidity, with improvement to unrestricted reserves and days' cash on hand; and solid and growing market share within the primary service area despite the competitive nature of the market," said S&P Global Ratings analyst Kevin Holloran.
The system's outlook is positive.
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