S&P Global Ratings has revised the outlook to stable from negative and affirmed the "A-" ratings on LaGrangeville, N.Y.-based Health Quest's debt.
"In November 2015, we revised the outlook to negative with the understanding that the organization was going to potentially add $350 million of additional debt for a new bed tower construction project on its main campus," said S&P analyst Jessica Goldman. "In our opinion, while [Health Quest] is moving forward with the additional debt, the organization has demonstrated significant improvement in financial performance and the overall financial profile in the last fiscal year and 2016 interim period."