Standard & Poor's Ratings Services said it raised its underlying rating (SPUR) to BB from B on Wilson County Memorial Hospital, Texas' (doing business as Connally Memorial Medical Center) series 2003 general obligation (GO) bonds.
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The outlook is stable.
"The raised rating reflects our view of the district's sustained improved financial metrics in fiscal 2013, through 11 months of fiscal 2014, and budgeted for fiscal 2015," said Standard & Poor's credit analyst Karl Propst.
The rating remains speculative grade due to the district's historically volatile patient volumes coupled with the inherent vulnerabilities associated with the medical center's small revenue base and rural location.
