DBRS rates Hamilton Health issue AA (low)

DBRS said it assigned a provisional rating of AA (low) with a stable trend to the senior unsecured debentures of Hamilton Health Sciences Corp.

The rating is based on an assessment that Hamilton Health is highly essential to the province of Ontario’s health-care system, the agency said.

Institutions that are highly essential to the health care system will generally be rated in line with the provincial government, reflecting the greatest likelihood of implicit support and strongest linkage to the credit profile of the government funder, DBRS explained.

The agency said there are no material deficiencies in the additional rating factors, including the hospital’s debt burden, operating performance, financial resources and liquidity.

The company has a strong brand and reputation, DBRS added.

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