Summary: South Broward Hospital District, Florida; System

Standard&Poor's Ratings Services raised its rating to 'AA' from 'AA-' on the South Broward Hospital District (SBHD), Fla.'s series 2015 health care revenue bonds (d/b/a Memorial Healthcare System). In addition, Standard&Poor's raised its long-term rating on SBHD's series 2006, 2007, 2008, 2009, and 2015 bonds to 'AA' from 'AA-'. Standard&Poor's also raised its underlying rating (SPUR) on the series 2006 and 2007 bonds issued by the district to 'AA' from 'AA-'. The outlook on all series of debt is stable. The upgrade to 'AA' reflects SBHD's continued strong operating performance and cash flow that has contributed to solid balance-sheet growth, including high unrestricted reserves and light pro forma debt. Although SBHD is a safety

...Standard & Poor's Ratings Services raised its rating to '##' from '##-' on the South Broward Hospital District (SBHD), Fla.'s series 2015 health care revenue bonds (d/b/a Memorial Healthcare System). In addition, Standard & Poor's raised its long-term rating on SBHD's series 2006, 2007, 2008, 2009, and 2015 bonds to '##' from '##-'. Standard & Poor's also raised its underlying rating (SPUR) on the series 2006 and 2007 bonds issued by the district to '##' from '##-'. The outlook on all series of debt is stable. The upgrade to '##' reflects SBHD's continued strong operating performance and cash flow that has contributed to solid balance-sheet growth, including high unrestricted reserves and light pro forma debt. Although SBHD is a safety net provider in south Broward County, the organization has forged a cost-efficient care delivery model that generates above-average cash flow and has allowed the organization to significantly minimize its reliance on property tax receipts. In addition, we...

Summary