...S&P Global Ratings affirmed its 'A-' long-term rating on the Colorado Health Facilities Authority's 2007, 2008, and 2015 hospital revenue bonds. All bonds were issued for Valley View Hospital (VVH). The outlook is stable. We have assessed VVH's financial profile as strong and its enterprise profile as adequate. The strong financial profile is supported by our view of VVH's solid financial performance, although margins have declined somewhat in year-to-date fiscal 2016, and its marked liquidity and financial flexibility, including satisfactory debt service coverage at maximum annual debt service (MADS). The enterprise profile exhibits a robust payor mix offset by very limited economic fundamentals as a result of the size of the population in the primary service area (PSA), located about 160 miles west of Denver. We think these combined credit factors lead to an indicative rating of 'a-' and a final rating of 'A-'. In our opinion, the 'A-' rating continues to reflect the above factors and...
