Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to BBB-plus from BBB on Grant County Public Hospital District No. 1 (Samaritan Healthcare), Wash.'s limited-tax general obligation bonds.
The outlook is stable.
"The rating action reflects our view of the district's implementation of operational revisions that have contributed to positive net operating income in 2012 after a period of losses," said Standard & Poor's credit analyst Chris Morgan.
The rating further reflects the district's sustained sound liquidity position and limited capital plans.
The stable outlook reflects that the district's efforts to improve operating performance have found traction and the anticipation that the district will be able to sustain operating surpluses and good cash ratios in some form during the two-year outlook horizon.
