S&P has revised the outlook to stable from positive and affirmed its "AA-" long-term rating on Lancaster (Pa.) County Hospital Authority's series 2012B, 2007A and 2007B revenue bonds issued for Lancaster (Pa.) General Hospital.
As of Aug. 1, LGH entered into an affiliation agreement with Philadelphia-based University of Pennsylvania Health System, which S&P currently rates as "AA-" and stable.
"The revised outlook reflects our view that LGH's rating cannot be higher than its group, UPHS," said S&P credit analyst Jessica Goldman. "The ratings reflect our assessment of LGH's healthy balance sheet, characterized by low leverage and above-median level liquidity."