Standard & Poor's Ratings Services said it revised its outlook to positive from stable on Garfield County, Colo.'s, series 2003 hospital revenue bonds and the Colorado Health Facilities Authority's series 2006, 2007, and 2008 hospital revenue bonds.
Standard & Poor's also affirmed its BBB-plus long-term rating and underlying rating (SPUR), where applicable, on the bonds. All bonds were issued for the Valley View Hospital Assn. (VVHA).
"The outlook revision reflects our view of VVHA's solid business position and a history of healthy operating levels," said Standard & Poor's credit analyst Avanti Paul.
The rating reflects VVHA's: solid business position as the leading provider in Garfield County; successful physician recruitment that has led to volume growth in fiscal 2012 to date; favorable payer mix and commercial contracts; history of robust operational performance and strong EBIDA margins, generating strong coverage; and growing cash levels, resulting in ample liquidity.
