Standard & Poor's Ratings Services said it raised its long-term and underlying rating to AA-minus from A-plus on Hunt Memorial Hospital District (HMHD), Texas' existing general obligation debt.
At the same time, Standard & Poor's assigned its AA-minus rating to the district's series 2014 GO refunding and improvement bonds. The outlook is stable.
"The raised rating reflects our view of the district's continued tax base growth and sustained tax rate flexibility," said Standard & Poor's credit analyst Kate Choban. "The rating further reflects our view of the district's solid market position," Choban added.
Series 2014 bond proceeds will be used to refund a portion of the district's existing debt for interest rate savings, and to renovate and equip buildings for hospital purposes.
The district operates Hunt Regional Medical Center in Greenville, Texas, about 45 miles east of Dallas, and Hunt Regional Community Hospital at Commerce, a satellite hospital 18 miles north of Greenville. The district has 216 licensed beds and staffs about 144 beds. The roughly 840-square-mile Hunt County, 40 miles northeast of Dallas, is part of the Dallas-Fort Worth consolidated metropolitan statistical area.
