MGH Receives A+ Bond Rating
Standard & Poor’s, the leading provider of financial market intelligence
and the world’s foremost source of credit ratings, has affirmed
Marion General Hospital’s A+ bond rating with stable outlook, a
rating which has been achieved since 2002.
“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 unrestricted reserves greater than 500 days and by low leverage;
• Solid maximum annual debt service coverage driven by good investment returns in the first nine months of fiscal 2014; and
• Stable management team that has undertaken initiatives to enhance the quality of the services offered in Grant County.
Partly offsetting the above strengths, in S&P’s view, are Marion Health’s:
• Soft operations in fiscal 2013 and fiscal 2014, which are projected to continue into the foreseeable future;
• Soft but improving economic conditions in Grant County; and
• Flat population base and an unemployment rate that is higher than the state and national averages.
The rating is a significant accomplishment for Marion General Hospital because few independent, nonprofit healthcare organizations receive an A+ bond rating.
“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 unrestricted reserves greater than 500 days and by low leverage;
• Solid maximum annual debt service coverage driven by good investment returns in the first nine months of fiscal 2014; and
• Stable management team that has undertaken initiatives to enhance the quality of the services offered in Grant County.
Partly offsetting the above strengths, in S&P’s view, are Marion Health’s:
• Soft operations in fiscal 2013 and fiscal 2014, which are projected to continue into the foreseeable future;
• Soft but improving economic conditions in Grant County; and
• Flat population base and an unemployment rate that is higher than the state and national averages.
The rating is a significant accomplishment for Marion General Hospital because few independent, nonprofit healthcare organizations receive an A+ bond rating.
Categories:
News