Standard & Poor's Ratings Services said it raised its rating to BBB from BBB-minus on New Jersey Health Care Facilities Financing Authority's $124.6 million series 2007A and 2007B bonds issued for Trinitas Regional Medical Center (TRMC).
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The outlook is stable.
"The upgrade reflects TRMC's ample cushion of unrestricted reserves relative to operations and debt, and very stable--although slim-earnings," said Standard & Poor's credit analyst Cynthia Keller. "Because TRMC's unrestricted reserves and related ratios are well above median levels, we believe this offsets TRMC's thinner earnings and high debt levels."
