CVHP Receives Positive Rating for Financial Performance

CENTENNIAL (S&P Global Ratings) May 25, 2016--S&P Global Ratings revised the outlook to positive from stable and affirmed its 'A-' underlying rating (SPUR) on the California Statewide Communities Development Authority's certificates of participation (COPs), issued for Citrus Valley Health Partners (CVHP).

"The outlook revision reflects our opinion of CVHP's continued strong financial performance, with solid maximum annual debt service coverage, and its good balance sheet, with continued growth in unrestricted reserves," said S&P Global Ratings credit analyst Allison Bretz.

The 'A-' COP SPUR and positive outlook further reflect our view of CVHP's:

  • Very low debt load, with no contingent liability exposure and ample days' cash on hand;
  • Sustained improvement in financial performance, including healthy maximum annual debt service coverage due in part to a low debt burden; and
  • Management team that has defined clear, strategic goals and demonstrated success in improving the underlying operating performance of the organization.

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