Montgomery County Higher Education&Health Authority Thomas Jefferson University; Hospital; System

S&P Global Ratings assigned its 'A+' rating to Montgomery County Higher Education&Health Authority, Pa.'s $565 million series 2018A revenue bonds issued for Thomas Jefferson University (TJU). We also affirmed our 'A+' ratings on Pennsylvania Higher Educational Facilities Authority's debt, issued for TJU and on Montgomery County Higher Education&Health Authority, Pa.'s debt, issued for the Abington Memorial Hospital Obligated Group (Abington). The outlook on all debt is stable. The rating reflects TJU's increasingly broad and diversified geographic, clinical, and educational system as well as its solid balance sheet that has remained in line with the rating during a multi-year period of rapid clinical and academic expansion. With a much larger system in place, management's efforts have now

...S&P Global Ratings assigned its 'A+' rating to Montgomery County Higher Education & Health Authority, Pa.'s $565 million series 2018A revenue bonds issued for Thomas Jefferson University (TJU). We also affirmed our 'A+' ratings on Pennsylvania Higher Educational Facilities Authority's debt, issued for TJU and on Montgomery County Higher Education & Health Authority, Pa.'s debt, issued for the Abington Memorial Hospital Obligated Group (Abington). The outlook on all debt is stable. The rating reflects TJU's increasingly broad and diversified geographic, clinical, and educational system as well as its solid balance sheet that has remained in line with the rating during a multi-year period of rapid clinical and academic expansion. With a much larger system in place, management's efforts have now turned to realizing benefits from increased size and scale especially to address weaker operations in fiscal 2017 and year to date in fiscal 2018. We believe there are many opportunities to achieve...

Full Report