Standard & Poor's Ratings Services has raised its rating from "A" to "A+" on bonds issued on behalf of Dayton, Ohio-based Kettering Health Network.
"The rating reflects our view of KHN's improved operational performance and strengthened balance sheet over the past three years, with healthy operating margins, robust maximum annual debt service coverage and growth in unrestricted reserves, all of which are consistent with the higher rating level," said S&P analyst Avani Parikh.
The system's outlook is stable, which reflects S&P's expectation that over the two-year outlook period KHN will sustain healthy operating trends while improving its balance sheet metrics.
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