Peterson Regional Medical Center, Texas, Upgraded to BBB by Fitch

Published April 20, 2015, 2:28 p.m. EDT

1 Min Read

Fitch Ratings said it has upgraded to BBB from BBB-minus the rating on the $67 million series 2005 Kerrville Health Facilities Development Corporation, Texas, bonds, issued on behalf of Sid Peterson Memorial Hospital (dba Peterson Regional Medical Center, PRMC).

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The rating outlook is stable.

The upgrade to BBB reflects PRMC's steady operating results in 2014 (fiscal year ended June 30) which have remained steady through the six-month interim period ended Dec. 31, 2014. PRMC generated a 13.24% operating EBITDA margin in 2014, ahead of its 11.2% budget, and maintained a 13.43% operating EBITDA margin through the interim period. Results are supported by steady clinical volumes and physician alignment, as well as targeted cost controls.

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