Scarborough Health Network: Rating Report

On January 26, 2024, DBRS Limited (Morningstar DBRS) confirmed its credit rating on Scarborough Health Network’s (SHN or the Hospital) Senior Unsecured Debentures at AA (low) with a Positive trend. The credit rating reflects Morningstar DBRS’ view on SHN's importance to the Province of Ontario’s (Ontario; rated AA (low) with a Positive trend by Morningstar DBRS) healthcare system and strong operational and financial links to Ontario. The credit rating is also supported by the absence of material weaknesses in the Hospital’s governance, operating performance, leverage, and financial strength.