Loma Linda University Medical Center, CA Revenue Bond Rating Raised To 'BB' On Project Completion, Increased Volume

CHICAGO (S&P Global Ratings) Dec. 9, 2022--S&P Global Ratings raised its long-term rating to 'BB' from 'BB-' on the California Statewide Communities Development Authority's series 2018, 2016A, 2014A, and 2014B fixed-rate revenue bonds issued for the Loma Linda University Medical Center (LLUMC) obligated group. The outlook is stable. "The rating action reflects our view of the full completion of the campus transformation project with full occupancy over a year, thereby eliminating related project risk, and growing volumes despite COVID-19 surges," said S&P Global Ratings credit analyst Suzie Desai. The stable outlook reflects our view of LLUMC's strong business position for the service area and good demand for services that should allow LLUMC to generate healthy revenue and volumes.

...December 9, 2022 CHICAGO (S&P Global Ratings) Dec. 9, 2022--S&P Global Ratings raised its long-term rating to '##' from '##-' on the California Statewide Communities Development Authority's series 2018, 2016A, 2014A, and 2014B fixed-rate revenue bonds issued for the Loma Linda University Medical Center (LLUMC) obligated group. The outlook is stable. "The rating action reflects our view of the full completion of the campus transformation project with full occupancy over a year, thereby eliminating related project risk, and growing volumes despite COVID-19 surges," said S&P Global Ratings credit analyst Suzie Desai. The stable outlook reflects our view of LLUMC's strong business position for the service area and good demand for services that should allow LLUMC to generate healthy revenue and volumes....

Ratings Action