Summary: Colorado Health Facilities Authority Valley View Hospital; Hospital

S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A-' long-term rating on the Colorado Health Facilities Authority's series 2018 refunding revenue bonds and 2015 and 2017 hospital revenue bonds. All bonds were issued for Valley View Hospital (VVH). The outlook revision reflects our view of VVH's very healthy operating margins the past several fiscal years and commensurate growth in unrestricted reserves that provides adequate cushion against its relatively heavy debt load. We also expect that VVH will not issue additional debt. The rating reflects our expectation that VVH will continue to experience growth in its revenue base, in particular through growth of its cardiology and neurosurgery service lines. We expect operations will remain strong for

...S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A-' long-term rating on the Colorado Health Facilities Authority's series 2018 refunding revenue bonds and 2015 and 2017 hospital revenue bonds. All bonds were issued for Valley View Hospital (VVH). The outlook revision reflects our view of VVH's very healthy operating margins the past several fiscal years and commensurate growth in unrestricted reserves that provides adequate cushion against its relatively heavy debt load. We also expect that VVH will not issue additional debt. The rating reflects our expectation that VVH will continue to experience growth in its revenue base, in particular through growth of its cardiology and neurosurgery service lines. We expect operations will remain strong for the rating, despite potential headwinds through reduction in provider fees and a shifting payer mix toward Medicare. Even if margins fall slightly from historical margins, we believe that VVH has ample room in its...

Summary