S&P Global Ratings raised the long-term rating to "AA-" from "A+" on Madison-based University of Wisconsin Hospitals and Clinics Authority's series 2013 healthcare revenue bonds.
The ratings agency also raised its underlying rating on UWHCA's series 2009B variable-rate demand bonds to "AA-" from "A+" and raised the long-term rating on UWHCA's series 2012 fixed-rate bonds issued for Rockford, Ill.-based SwedishAmerican Hospital to "A+" from "A."
In addition, the ratings agency affirmed the "AA+/A-1+" rating on UWHCA's series 2009B bonds.
"The rating action reflects our view of UWHCA's continued solid enterprise profile, which remains anchored by its strong business position as the state's only academic medical center and the continued execution on the growth strategies that were implemented in alignment with University of Wisconsin School of Medicine and Public Health and University of Wisconsin Medical Foundation," said S&P analyst Brian Williamson.
The outlook is stable, reflecting S&P's opinion UWHCA will maintain its enterprise profile through further geographic diversity as it continues to expand its footprint.