S&P has revised its outlook on Atlantic City, N.J.-based AtlantiCare Regional Medical Center to positive from stable and affirmed its "A+" rating on series 2007 and series 2012A revenue bonds issued on behalf of the hospital by the New Jersey Health Care Facilities Financing Authority.
The outlook revision was based on AtlantiCare Health System's proposed merger with Danville, Pa.-based Geisinger Health System, which is "AA" rated. AtlantiCare signed a definitive agreement to become a member of Geisinger in May 2014.
"The positive outlook reflects our opinion that we could raise the rating once AtlantiCare's affiliation with Geisinger is consummated, and as long as AtlantiCare continues its strong financial performance," said Cynthia Keller, an S&P analyst.
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