DuBois Hospital Authority, Pennsylvania Penn Highlands Healthcare; Hospital

S&P Global Ratings' long-term rating on DuBois Hospital Authority of the City of DuBois, Pa.'s series 2018 revenue bonds issued on behalf of Penn Highlands Healthcare (PHH) is 'A-'. The outlook is stable. The rating reflects our view of PHH's enterprise profile, including its dominant market position as the sole provider of many acute care services in its primary service area (PSA), with a robust and growing network of outpatient and ambulatory sites. However, we view PHH's PSA as somewhat limited, given its small and declining population and weak economic indicators. The rating also incorporates continued improvement of PHH's financial profile consistent with expectations, with year-over-year revenue and income growth generating healthy maximum annual debt service (MADS) coverage. PHH's unrestricted

...S&P Global Ratings' long-term rating on DuBois Hospital Authority of the City of DuBois, Pa.'s series 2018 revenue bonds issued on behalf of Penn Highlands Healthcare (PHH) is 'A-'. The outlook is stable. The rating reflects our view of PHH's enterprise profile, including its dominant market position as the sole provider of many acute care services in its primary service area (PSA), with a robust and growing network of outpatient and ambulatory sites. However, we view PHH's PSA as somewhat limited, given its small and declining population and weak economic indicators. The rating also incorporates continued improvement of PHH's financial profile consistent with expectations, with year-over-year revenue and income growth generating healthy maximum annual debt service (MADS) coverage. PHH's unrestricted reserves have grown over the last few years as cash flow has improved, but liquidity metrics are still somewhat thin for the rating. PHH added a fifth acute care hospital to its portfolio during...

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