...S&P Global Ratings raised its long-term and underlying rating on Norman Regional Hospital Authority (NRHA), Okla.'s revenue debt, issued for Norman Regional Health System, one notch to '###+' from '###'. At the same time, S&P Global assigned its '###+' rating to the authority's series 2016 and 2017 bonds issued for the system. The outlook is stable. The upgrade reflects expected benefits from this issuance, which should lower debt outstanding, debt service, and interest rate expense, and eliminate all contingent debt. In addition, NRHA's profitability and cash flow continued to improve and growth in unrestricted reserves has created balance-sheet cushion above the '###' median level. We assessed NRHA's enterprise profile as strong, characterized by its solid market position with a 51.4% market share, good volume growth and adequate economic fundamentals that the University of Oklahoma anchors somewhat. We also assessed its financial profile as adequate, with improved earnings generating...
