Moody’s Investors Service has revised its outlook on Saint Luke’s Health System’s A1 rating to stable from negative due to its improved operating performance. The action affects $532 million of debt issued through the Missouri Health and Educational Facilities Authority.
Saint Luke’s operates 11 acute-care and specialty hospitals throughout the Kansas City region that generated $1.05 billion of operating revenue in fiscal year 2010.
The rating affirmation and outlook change reflects SLHS’s improved operating performance in fiscal 2009 and 2010 and through three months of fiscal year 2011, along with improved debt coverage and liquidity ratios, Moody’s wrote.
The system has plans to spend about $600 million on capital projects over the next five years.
