St. Charles Parish Hospital District No. 1 (St. Charles), Louisiana; General Obligation

S&P Global Ratings revised its outlook to positive from stable and affirmed its 'B' long-term rating on St. Charles Parish Hospital District No. 1, (St. Charles) La.'s previously-issued general obligation (GO) parity debt. The outlook revision reflects sustained improvement in the organization's financial performance, which is largely a result of a relatively new management agreement (effective early in fiscal 2015) with a subsidiary of the Ochsner Health System (Ochsner), a multihospital system that covers a large part of Louisiana and is headquarter in New Orleans. The improved financial performance has translated to good growth in unrestricted reserves over the past two years. We believe there is the potential for a higher rating if management successfully refinances an upcoming $9.7 million

...S&P Global Ratings revised its outlook to positive from stable and affirmed its 'B' long-term rating on St. Charles Parish Hospital District No. 1, (St. Charles) La.'s previously-issued general obligation (GO) parity debt. The outlook revision reflects sustained improvement in the organization's financial performance, which is largely a result of a relatively new management agreement (effective early in fiscal 2015) with a subsidiary of the Ochsner Health System (Ochsner), a multihospital system that covers a large part of Louisiana and is headquarter in New Orleans. The improved financial performance has translated to good growth in unrestricted reserves over the past two years. We believe there is the potential for a higher rating if management successfully refinances an upcoming $9.7 million tender and the financial profile continues to show improvement while the enterprise profile remains at least consistent with current levels. The 'B' rating reflects our view of St. Charles Parish...

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