Summary: Main Line Health System, Pennsylvania; System

S&P Global Ratings' long-term rating on the Main Line Health System (MLH), Pa.'s series 2010A, 2012A, and 2017A fixed-rate bonds is 'AA' (the bonds were issued by various authorities). Main Line Health System is the parent company of Main Line Health. The outlook is stable. The 'AA' rating reflects MLH's leading market share in key markets and favorable payor mix. While the broader market is competitive, we believe that the system's diverse service offerings, well-regarded quality and reputation, partnerships, and ongoing strategic investments position it well to maintain a solid position in the market. The rating also reflects our expectation that MLH's balance sheet will continue to provide ample cushion despite lower-than-historical margins. While margins are lower than 'AA' medians

...S&P Global Ratings' long-term rating on the Main Line Health System (MLH), Pa.'s series 2010A, 2012A, and 2017A fixed-rate bonds is '##' (the bonds were issued by various authorities). Main Line Health System is the parent company of Main Line Health. The outlook is stable. The '##' rating reflects MLH's leading market share in key markets and favorable payor mix. While the broader market is competitive, we believe that the system's diverse service offerings, well-regarded quality and reputation, partnerships, and ongoing strategic investments position it well to maintain a solid position in the market. The rating also reflects our expectation that MLH's balance sheet will continue to provide ample cushion despite lower-than-historical margins. While margins are lower than '##' medians to date and may be again in 2020, we believe that MLH's robust unrestricted reserves and very light debt load support the financial profile. Through the first nine months of fiscal 2019, results are muted...

Summary