Standard & Poor's Ratings Services raised its rating and underlying rating (SPUR) to 'A-' from 'BBB+' on the Washington Health Care Facilities Authority's hospital revenue bonds (series 2005A, 2005B, and 2010) issued on behalf of Overlake Hospital Association (Overlake). The outlook is stable. The rating action reflects our view of Overlake's continued strong financial performance and further improvement in balance sheet metrics. Since we revised Overlake's bond rating outlook to positive in February 2010, the organization has continued to post what we consider very solid margins and sound debt service coverage. In addition, Overlake's robust profitability and improved investment performance have resulted in nice growth in unrestricted cash and investments and a decrease in leverage since fiscal 2009. More specifically,...
Companies mentioned in this report are:
- Overlake Hosp Med Ctr
- Washington Hlth Care Fac Auth
Action: Outlook: Stable
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