S&P revises Meritus Medical Center's outlook to stable

S&P Global Ratings affirmed its "BBB" rating on Hagerstown, Md.-based Meritus Medical Center's series 2015 bonds, issued by the Maryland Health and Higher Educational Facilities Authority.

The affirmation is a result of several factors, including Meritus' stable financial profile, favorable operating income, , increased debt service coverage and improved balance sheet measures and cash flow.

The outlook was revised to stable from positive.

"The outlook revision to stable reflects Meritus' adequate financial profile that will likely remain consistent with the current rating level over the near term given management's decision to implement a new Epic electronic medical record system," Stephen Infranco, an S&P Global Ratings credit analyst, said. "We changed the outlook last year after our review determined the hospital's financial trend improved, and that its financial profile was likely to strengthen; however, we no longer believe those event will occur as expected."

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