Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating (SPUR) to A-minus from BBB-plus on Sky Lakes Medical Center, Ore.'s outstanding debt, issued by the Klamath Falls Intercommunity Hospital Authority.
The outlook is stable.
"The raised rating reflects our view of the medical center's continued strong operating performance for the past several years, driven by management's dedicated efforts to control costs," said Standard & Poor's credit analyst Geraldine Poon. "The rating is also supported by Sky Lakes' solid business position and strong balance sheet metrics characterized by ample liquidity and moderate debt levels."
Sky Lakes, a 75-staffed-bed (176 licensed beds/110 patient capacity) hospital located at the base of the Cascade Mountains in Klamath Falls, Ore., services a four-county area in southern Oregon and Northern California.
