Standard & Poor's Ratings Services said it raised its long-term rating to A-minus from BBB-plus on John C. Lincoln Health Network, Ariz.'s existing revenue bonds, issued by the Glendale Industrial Development Authority.
The outlook is positive.
"The raised rating reflects our view of the strong enterprise profile of Scottsdale Lincoln Health Network, the consolidated system comprising Lincoln and Scottsdale Healthcare that was completed in September 2013," said Standard & Poor's credit analyst Geraldine Poon. "Further supporting the rating is our view of SLHN's good management team, history of good financial performance, and solid market presence in the north Phoenix area," Poon added.
Lincoln owns and operates a 262-bed acute-care facility (North Mountain) in north-central Phoenix and a 203-bed acute-care facility (Deer Valley) that is 10 miles northwest of the North Mountain campus. There is also early development of a third campus, which is expected to further bolster its business position.
