Summary: Colorado Health Facilities Authority Valley View Hospital; Hospital

S&P Global Ratings assigned its 'A-' long-term rating to the Colorado Health Facilities Authority's $57 million series 2018 refunding revenue bonds. At the same time, we affirmed our 'A-' long-term rating on the authority's 2015 and 2017 hospital revenue bonds. All bonds were issued for Valley View Hospital (VVH). The outlook is stable. The series 2018 bond proceeds will fully refund VVH's series 2014 and 2017 bonds. The rating reflects our expectation that operations will remain strong for the rating, even if slightly weaker than historical margins, and that unrestricted reserves will show incremental growth after a period of heavy capital spending. Management has decided to scale down its campus project, so we expect a slowdown in capital spending to

...S&P Global Ratings assigned its 'A-' long-term rating to the Colorado Health Facilities Authority's $57 million series 2018 refunding revenue bonds. At the same time, we affirmed our 'A-' long-term rating on the authority's 2015 and 2017 hospital revenue bonds. All bonds were issued for Valley View Hospital (VVH). The outlook is stable. The series 2018 bond proceeds will fully refund VVH's series 2014 and 2017 bonds. The rating reflects our expectation that operations will remain strong for the rating, even if slightly weaker than historical margins, and that unrestricted reserves will show incremental growth after a period of heavy capital spending. Management has decided to scale down its campus project, so we expect a slowdown in capital spending to more normal levels and no additional debt. The primary service area (PSA) is expected to grow with economic indicators above national levels but remain somewhat challenged as a result of VVH's location in the Rocky Mountains. The 'A-' rating...

Summary