Standard & Poor’s raised to A-minus from BBB-plus its underlying rating on Warren County, Ky.’s $73.5 million of Series 2008 bonds and its long-term rating on $27.9 million of Series 2007A bonds that were issued for the Bowling Green-Warren County Community Hospital Corp.
The corporation is doing business as the Medical Center and is the chief subsidiary of the parent organization, Commonwealth Health Corp. The outlook is stable.
“The upgrade reflects our opinion of CHC’s strong business position as the dominant acute-care provider in Warrant County, the primary service area, combined with an increasingly sound overall financial profile,” Standard & Poor’s analyst Charlene Butterfield wrote in a report.
“Other credit factors that support the rating include CHC’s continued volume growth, maintenance of healthy operating profitability in fiscal 2011, increasing balance sheet strength, and lack of additional debt plans.”
