Summary: Northern Hospital District Of Surry County, North Carolina; Hospital

S&P Global Ratings assigned its 'BBB' rating to Northern Hospital District Of Surry County (NHDSC), N.C.'s series 2017 health care facilities revenue refunding bonds. In addition, S&P Global Ratings affirmed its 'BBB' rating on NHDSC's existing rated debt obligations. The outlook is stable. We assessed NHDSC's enterprise profile as adequate characterized by a satisfactory medical staff and sound management, although we assess the rural service area as having very weak economic fundamentals with a very limited population base; we assess its financial profile as strong with average financial performance and solid liquidity and financial flexibility, offset by a limited revenue base, with annualized net patient revenue of $84 million as of the unaudited 12-month period ended Sept. 30, 2016, which

...S&P Global Ratings assigned its '###' rating to Northern Hospital District Of Surry County (NHDSC), N.C.'s series 2017 health care facilities revenue refunding bonds. In addition, S&P Global Ratings affirmed its '###' rating on NHDSC's existing rated debt obligations. The outlook is stable. We assessed NHDSC's enterprise profile as adequate characterized by a satisfactory medical staff and sound management, although we assess the rural service area as having very weak economic fundamentals with a very limited population base; we assess its financial profile as strong with average financial performance and solid liquidity and financial flexibility, offset by a limited revenue base, with annualized net patient revenue of $84 million as of the unaudited 12-month period ended Sept. 30, 2016, which is classified as a small hospital under our criteria. Combined, we think these credit factors lead to an indicative and final rating of '###'. The rating further reflects our opinion of NHDSC's:...

Summary