S&P Global Ratings revised the outlook to stable from negative and affirmed its 'A' long-term rating and underlying rating (SPUR) on Franciscan Missionaries of Our Lady Health System (FMOLHS), La.'s various revenue bonds. The outlook revision reflects our view of FMOLHS' significant improvement in operating performance supporting a robust balance sheet, along with stabilized market shares and the removal of expansion risk through a refocused concentration on existing markets. Gross revenue of the obligated group secures the bonds. The rating reflects our view of FMOLHS' sound market position despite some challenges, strong balance sheet, and improving operations before nonrecurring items. FMOLHS operates in Louisiana and Mississippi, with a leading market share in two of its four major markets and a
