...Fitch Ratings has affirmed its 'A' Issuer Default Rating (IDR) for Adventist Health (Adventist, or the system) and has maintained an 'A' long-term rating on approximately $930 million of Adventist's outstanding rated debt. Fitch has revised Adventist's Rating Outlook to Positive from Stable. The 'A' long-term rating reflects Fitch's view of Adventist's position as the leading acute care provider in multiple growing markets, which insulates the system from significant competition, and Adventist's supporting midrange revenue defensibility, despite comparatively higher levels of Medicaid and self-pay volumes. Fitch believes that Adventist will improve upon its already good operations and soon begin generating EBITDA margins of approximately 10%¡11%, with continued cost controls that support Adventist's expected growth and capital projections, resulting in a strong operating risk assessment. The rating also reflects Fitch's expectations that Adventist's leverage profile will continue to improve...
