S&P Global Ratings raised its long-term rating on St. Charles Parish Hospital District No. 1 (St. Charles), La.'s previously issued general obligation (GO) parity debt to ?BB-? from ?B+?. The outlook is stable. The upgrade reflects our view of St. Charles' markedly improved unrestricted reserves and continued solid performance, largely supported by Ochsner's management agreement, with slowly improving debt-related ratios. Revenue from an unlimited ad valorem tax on all taxable property within the district, which is coterminous with St. Charles Parish, secures the GO bonds. Ad valorem tax bills are mailed each November, become due on or before Dec. 31 in the calendar year in which they are assessed, and are considered delinquent 30 days after the due date. Debt
