Tarrant County Hospital District, TX Revenue Bond Rating Raised To #AA# On Criteria Application

Stocks and Financial Services Press Releases Friday June 22, 2018 09:17
CHICAGO--22 Jun--S&P Global Ratings

CHICAGO (S&P Global Ratings) June 21, 2018--S&P Global Ratings raised its long-term rating to 'AA' from 'AA-' on the Tarrant County Hospital District (also known as JPS Health Network, or JPS), Texas' $18.7 million 2012 fixed-rate revenue bonds. The outlook is stable.

The rating action reflects the application of our "U.S. And Canadian Not-For-Profit Acute Care Health Care Organizations" criteria, published March 19, 2018 on RatingsDirect.

"The rating reflects our assessment of JPS' very light leverage, solid cash flow, generally consistent unrestricted reserves, and significant ability to raise tax revenue," said S&P Global Ratings credit analyst Brian Williamson.

The current stable outlook reflects our expectation that JPS will continue to generate solid cash flow and coverage, given its very light debt burden and market position.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.


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