...S&P Global Ratings' underlying rating (SPUR) on North Carolina Medical Care Commission's series 2008 hospital revenue bonds, issued for CaroMont Health, is '##-'. The outlook is stable. The rating reflects our expectation that CaroMont will maintain its dominant market position and healthy financial profile, with continued improvement in financial performance expected over the outlook period as volumes and corresponding revenues continue to increase. After a period of operating weakness in fiscal 2017 following a large-scale technology installation, operations have improved in fiscal 2018 and through the nine-month interim period ended March 31, 2019. The rating also reflects a favorable adjustment for the hospital's extraordinarily high unrestricted reserve ratios compared with our expectations for the rating level. In response to competitive pressures in the secondary service area and the need for additional beds in a nearby community, CaroMont plans to spend over $500 million in capital...
