Press Release|Public Finance

KBRA Affirms AAA Rating for Tarrant County Hospital District Limited Tax Bonds

1 Feb 2024   |   New York


KBRA affirms the long-term rating of AAA with a Stable Outlook for the Tarrant County Hospital District Limited Tax Bonds.

Key Credit Considerations

The rating action reflects the following key credit considerations:

Credit Positives

  • The District is the only safety net healthcare provider in the County and plays a critical role within the County’s public health mission.
  • District’s ad valorem tax rate is well lower than the constitutional limit and tax base growth has historically provided strong support without the need for tax rate increases.

Credit Challenges

  • Property tax levy was lowered in FY 2024 resulting in a measured reduction in operating support.
  • Capital program projects are expected to place upward pressure on operating expenses.
  • Macroeconomic environment has caused staffing/retention difficulties and placed upward pressure on wages.

Rating Sensitivities

For Upgrade

  • Not applicable given AAA rating level.

For Downgrade

  • Significant secular deceleration or declines in tax base growth pressuring ad valorem tax support.
  • Trend of sharply increasing operating deficits requiring substantial increases in property tax support.

To access rating and relevant documents, click here.



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

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency 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 by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

Doc ID: 1003122

805 Third Avenue
29th Floor
New York, NY 10022
+1 (212) 702-0707
Contact Us

© 2010-2024 Kroll Bond Rating Agency, LLC. All Rights Reserved. Kroll Bond Rating Agency, LLC is not affiliated with Kroll Inc., Kroll Associates Inc., KrollOnTrack Inc., or their affiliated businesses.