S&P Global Ratings affirmed its 'AA' long-term rating on various series of debt issued for South Broward Hospital District (SBHD; doing business as Memorial Healthcare System), Fla. The outlook is stable. SBHD's debt obligations are secured by a gross receipts pledge of the obligated group. SBHD, a public entity created under Florida law, owns six hospitals in southern Broward County, as well as a nursing home and various outpatient and primary care clinics throughout the region. As a public entity, SBHD is permitted to levy taxes up to a constitutional cap of 2.5 mills. The rating reflects SBHD's very healthy financial profile, with strong and further improving operating performance, ample coverage of maximum annual debt service (MADS), and long track
