Penn Highlands Healthcare, PA's Series 2018 Revenue Bonds Assigned 'A-' Rating

CHICAGO (S&P Global Ratings) April 19, 2018--S&P Global Ratings assigned its 'A-' rating to The Hospital Authority of the City of DuBois, Pa.'s $158.41 million revenue bonds, series 2018, issued on behalf of Penn Highlands Healthcare (PHH). The outlook is stable. "The rating is based on our opinion of PHH's adequate enterprise profile and strong financial profile," said S&P Global Ratings credit analyst Allison Bretz. The rating reflects our view of PHH's enterprise profile, including a 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 declining population and weak economic

...CHICAGO (S&P Global Ratings) April 19, 2018--S&P Global Ratings assigned its 'A-' rating to The Hospital Authority of the City of DuBois, Pa.'s $158.41 million revenue bonds, series 2018, issued on behalf of Penn Highlands Healthcare (PHH). The outlook is stable. "The rating is based on our opinion of PHH's adequate enterprise profile and strong financial profile," said S&P Global Ratings credit analyst Allison Bretz. The rating reflects our view of PHH's enterprise profile, including a 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 declining population and weak economic indicators. The rating also incorporates our view of PHH's markedly improved financial profile, with year-over-year revenue and income growth generating healthy pro forma maximum annual debt service coverage. This improvement is largely...

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