S&P Global Ratings assigned its "AA" long-term rating to Florence, S.C.-based McLeod Regional Medical Center's $147.3 million series 2018 revenue bonds.
Concurrently, S&P affirmed its "AA" long-term rating on McLeod Regional's series 2010A and 2014 bonds.
"The rating reflects our view of McLeod's expansive market position across northeast South Carolina as the leading healthcare system in its 15-county total service area," said S&P credit analyst Patrick Zagar. "In recent years, McLeod has grown significantly through acquisition of smaller acute care hospitals, greenfield expansion projects and organic volume growth leveraging its deep medical staff and status as the region's tertiary referral hospital."
The outlook is stable, reflecting McLeod's healthy cash flow and solid financial profile.