S&P assigns 'A-' rating to Norton Healthcare’s bonds

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.

More articles on healthcare finance:

Majority of healthcare executives expect finances to suffer in move to value-based contracts
Fort Worth hospital to close, 152 to lose jobs
Service cuts, layoffs may not be enough to save Oklahoma hospital, says CFO

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars