Scottsdale Health Gets Ratings Boost Under New Finance Plan (Bond Buyer)

October 31, 2012 – With the healthcare industry facing dramatic changes, Scottsdale Healthcare Corp. (A2 / 810472FW5) is getting a ratings lift after the sale of eight buildings under a new finance strategy. Moody’s Investors Service raised the Arizona hospital organization to A2 from A3 and shifted the outlook to stable; it had been positive at the lower rating. Fitch Ratings raised its rating to A from A-minus and provided a stable outlook. Standard & Poor’s improved its outlook on SHC’s A-minus rating to positive from stable. The ratings changes affect $332 million of revenue bonds issued through the Scottsdale Industrial Development Authority. “The positive outlook reflects our view of SH’s continued liquidity growth, with an additional increase related to the divestiture of medical office buildings, and the turnaround in profitability at Thompson Peak, the newest of the system’s three campuses,” wrote Standard & Poor’s analyst Geraldine Poon.

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