S&P Global Ratings has assigned an "A" rating to Winston-Salem, N.C.-based Wake Forest Baptist Medical Center's $150 million of series 2016 bonds.
"WFB maintains a robust enterprise profile, in our opinion, highlighted by its growing market share across higher acuity service lines, steadily increasing volume and strategic growth across its service area," said S&P analyst Jennifer Soule. "WFB has also sustained a healthy financial profile as evidenced by its ample balance of unrestricted reserves and light debt compared with the current rating and with the 'A+' rating level."
The outlook is positive, reflecting S&P's view of WFB's healthy enterprise profile, stable financial performance in recent years and its ample balance sheet cushion.