S&P Global Ratings has assigned an "AA-" long-term rating to Phoenix-based Banner Health's $776.1 million of series 2016A fixed rate revenue bonds.
"The rating reflects our view of Banner Health's very strong enterprise profile, with good revenue diversity across 28 acute care hospitals located in seven Western states," said S&P analyst Kevin Holloran.
The outlook is stable, reflecting S&P's expectation that Banner's operating margins and balance sheet metrics will be temporarily diluted by recent acquisitions, but will steadily improve in the next one or two years.