Standard & Poor's Affirms A+ Bond Rating
Standard & Poor's Affirms A+ Bond Rating for Marion Health's Series 2012
Bonds Standard & Poor’s, the leading provider of financial market
intelligence and the world’s foremost source of credit ratings,
has affirmed Marion Health’s A+ bond rating and stable
outlook on its Series 2012 Bonds.
“Our bond rating indicates that our Hospital is strong financially
and positioned well for the future,” states Paul Usher, President/CEO.
“It also signifies the importance of our vision of building relationships
and working together to fulfill our commitment to our Healthcare Community.”
A Standard & Poor's rating reflects a borrower's capacity
to meet its financial commitments on a timely basis. The A+ rating reflects
S&P’s view of Marion Health’s:
- Strong balance sheet characterized by liquidity that has continued to grow to more than 400 days' cash on hand and by low leverage;
- Solid operations in fiscal 2011 that were dependent on the receipt of disproportionate share money that was not received in fiscal 2010;
- and Stable management team that has undertaken initiatives to enhance the quality of the services offered in Grant County.
The rating is a significant accomplishment for Marion Health because few independent, nonprofit healthcare organizations receive an A+ bond rating.