S&P: Louisiana Children's Medical Center Obligated Group And Children's Hospital Of Louisiana Ratings Lowered To 'A+'
At the same time, S&P Global Ratings lowered its issuer credit rating (ICR) to 'A+' from 'AA-' on Children's Hospital of Louisiana, an entity of LCMC. The ICR is based on our opinion of Children's Hospital's overall capacity and willingness to meet its financial obligations and is not specific to any debt instrument.
"The rating action reflects our view that LCMC's balance sheet no longer provides the needed cushion to offset the weaker and more uneven trend of financial performance of the organization," said S&P Global Ratings credit analyst Suzie Desai.
The stable outlook reflects our view of LCMC's very healthy balance sheet and solid market position along with robust actual annual debt service coverage.