South Broward Hospital District, FL 2021A-B Hospital Revenue Bonds Rated 'AA'

NEW YORK (S&P Global Ratings) Oct. 27, 2021--S&P Global Ratings' assigned its 'AA' long-term rating to South Broward Hospital District (SBHD; doing business as Memorial Healthcare System), Fla.'s $200 million series 2021A tax exempt hospital revenue bonds and $50 million series 2021B taxable hospital revenue bonds. In addition, S&P Global Ratings affirmed its 'AA' rating on various series of debt issued for SBHD. The outlook on all ratings is stable. "The rating reflects our view of the district's trend of positive operating results that continued through 2021 despite the significant negative effects of the COVID-19 pandemic," said S&P Global Ratings credit analyst Stephen Infranco. Elective surgeries were intermittently shut down from April through September 2020 due to government mandates and

...October 27, 2021 NEW YORK (S&P Global Ratings) Oct. 27, 2021--S&P Global Ratings' assigned its '##' long-term rating to South Broward Hospital District (SBHD; doing business as Memorial Healthcare System), Fla.'s $200 million series 2021A tax exempt hospital revenue bonds and $50 million series 2021B taxable hospital revenue bonds. In addition, S&P Global Ratings affirmed its '##' rating on various series of debt issued for SBHD. The outlook on all ratings is stable. "The rating reflects our view of the district's trend of positive operating results that continued through 2021 despite the significant negative effects of the COVID-19 pandemic," said S&P Global Ratings credit analyst Stephen Infranco. Elective surgeries were intermittently shut down from April through September 2020 due to government mandates and bed shortages, while labor and supply scarcity drove higher costs. SBHD recognized approximately $193 million of CARES Act and other COVID-19 relief funds to date, most of which...

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