South Broward Hospital District, Florida; System

S&P Global Ratings affirmed its 'AA' long-term rating on various series of debt issued for South Broward Hospital District (SBHD; d/b/a Memorial Healthcare System), Fla. The outlook on all series of debt is stable. The rating affirmation reflects our expectation that SBHD's weaker, though still positive, nine-month interim performance ended Jan. 31, 2018, was largely due to some one-time items and we expect financial performance to improve as management continues its investment in key operating strategies that should contribute to long-term financial stability. Although SBHD is a safety net provider in south Broward County, the organization has forged a cost-efficient care delivery model that generates historically above-average cash flow and has allowed it to eliminate reliance on property tax receipts,

...S&P Global Ratings affirmed its '##' long-term rating on various series of debt issued for South Broward Hospital District (SBHD; d/b/a Memorial Healthcare System), Fla. The outlook on all series of debt is stable. The rating affirmation reflects our expectation that SBHD's weaker, though still positive, nine-month interim performance ended Jan. 31, 2018, was largely due to some one-time items and we expect financial performance to improve as management continues its investment in key operating strategies that should contribute to long-term financial stability. Although SBHD is a safety net provider in south Broward County, the organization has forged a cost-efficient care delivery model that generates historically above-average cash flow and has allowed it to eliminate reliance on property tax receipts, while maintaining solid liquidity and financial flexibility. In addition, we believe SBHD has demonstrated strong enterprise profile characteristics, with a dominant market position in...

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