S&P assigns 'AA-' rating to Johns Hopkins Health System's bonds

S&P Global Ratings assigned an "AA-" long-term rating to Baltimore-based Johns Hopkins Health System's $500 million of series 2016 bonds.

"The rating on JHHS reflects the system's very strong enterprise profile, evidenced by its excellent reputation as the academic medical center for Johns Hopkins University School of Medicine [and] its solid market position in a sizable and diverse service area," said S&P analyst Stephen Infranco.

These strengths are "coupled with a consistent financial profile, highlighted by stable, albeit modest, operational performance for the past several years, with expectations for continued modest operating surpluses over the next two years based on management's projections," according to Mr. Infranco.

JHHS also shows "adequate liquidity and financial flexibility compared with similarly rated peers."

The outlook is stable.

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