Fitch Ratings said it upgraded to A from A-minus $510 million of Wisconsin Health and Educational Facilities Authority revenue bonds issued on behalf of Aurora Health Care Inc. The rating outlook is stable.
In addition, Fitch assigns an underlying A rating to the following WHEFA fixed-rate revenue bonds issued on behalf of Aurora: $111.8 million of Series 1993, $98.7 million of Series 1996, and $188.8 million of Series 1997.
Analysts said the rating upgrade is based on Aurora’s primary credit strength of a low operating risk profile gained via its large, integrated delivery system; its consistent improvement in operating profitability; and excellent management practices.
Aurora is near completion of a decade-long expansion strategy to create a fully integrated health care delivery system. With 13 hospitals and more than 1,000 physicians located in 95 communities throughout eastern Wisconsin, Aurora is the largest health care provider in the state.