Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating (SPUR) to A-minus from BBB-plus on Southern Mono Healthcare District, Calif.'s general obligation bonds.
The outlook is stable.
"The rating action reflects our view of the district's strong financial profile, management's proven ability to weather downturns in volume, and a ski tourism-anchored economic base that has shown resiliency during a period of low snowfall," said Standard & Poor's credit analyst Chris Morgan.
The stable outlook reflects the view that the district's operational improvements are sustainable such that its cash will remain very strong and that the district will be able to adapt its operations to shifts in volumes during the two-year outlook horizon.
