Press Release|Public Finance
View PDF

KBRA Affirms AA+ Rating, Stable Outlook for Midland County Hospital District, Limited Tax General Obligation Bonds

7 Aug 2025   |   New York

Contacts

KBRA affirms the long-term AA+ rating for the Midland County Hospital District, Limited Tax General Obligation Bonds. The Outlook is Stable.

Key Credit Considerations

The ratings reflect the following key credit considerations:

Credit Positives

  • Midland is the only safety net healthcare provider in the County and plays a critical role within the community’s health mission.
  • A growing tax base continues to generate strong property tax revenues for the District.
  • The current tax rate of $0.0763 per $100 of AV provides ample flexibility for the District to increase the rate further to meet future debt service, if needed.

Credit Challenges

  • Top 10 taxpayers are concentrated in the oil and gas industry.

Rating Sensitivities

For Upgrade

  • Tax base diversification.

For Downgrade

  • Significant economic downturn that results in a sharp reduction in pledged ad valorem tax revenues.

To access ratings and relevant documents, click here.

Methodologies

Disclosures

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1010750