St. Charles Parish Hospital District No. 1, LA Debt Rating Raised To 'B+' On Sustained Performance

COLUMBIA (S&P Global Ratings) July 15, 2021--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 'B+' from 'B'. The outlook is stable. "The higher rating reflects sustained improvement in the organization's financial performance, which is largely a result of progress made under a management agreement, effective early in fiscal 2015, with a subsidiary of the Ochsner Health System, a multihospital system that covers a large part of Louisiana and is headquarter in New Orleans," said S&P Global Ratings credit analyst Luke Gildner. The improved financial performance has translated to a temporary increase in liquidity, though we understand management forecasts a significant spend down

...July 15, 2021 COLUMBIA (S&P Global Ratings) July 15, 2021--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 'B+' from 'B'. The outlook is stable. "The higher rating reflects sustained improvement in the organization's financial performance, which is largely a result of progress made under a management agreement, effective early in fiscal 2015, with a subsidiary of the Ochsner Health System, a multihospital system that covers a large part of Louisiana and is headquarter in New Orleans," said S&P Global Ratings credit analyst Luke Gildner. The improved financial performance has translated to a temporary increase in liquidity, though we understand management forecasts a significant spend down reserves closer to fiscal 2019 levels through elevated capital spending, conservative cash management assumptions, and intergovernmental transfers to support the State of Louisiana's...

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