A+ Bond Rating Affirmed
Only 12% of stand-alone, nonprofit healthcare organizations receive an A+ bond rating. Standard & Poor’s, the leading provider of financial market intelligence, and the world’s foremost source of credit ratings, has once again affirmed Marion Health’s A+ bond rating on its Series 2002 Bonds.
A Standard & Poor's rating reflects a borrower's capacity to meet its financial commitments on a timely basis. The A+ rating reflects Marion Health’s . . .
- Market position as the sole community healthcare provider in Grant County, with nearly 64% of inpatient admissions
- Strong balance sheet as evidenced by a very solid 378 days’ cash on hand and a 206% cash-to-debt ratio
- Continued positive financial performance for a 10-month period ending April 30, 2008, despite challenging economic conditions
“This bond rating means the Hospital is strong financially and able to take advantage of opportunities as well as bring some of the latest technology to the community,” states Paul L. Usher, President/CEO. “It also positions the Hospital very well to meet new challenges in the healthcare environment.”
FUTURESCAN 2008, a healthcare trend publication of the American Hospital Association’s Society for Healthcare Strategy and Market Development agrees. “With the national healthcare challenges facing hospitals . . . higher rated healthcare organizations are better capitalized and will be better positioned over the long term to meet coming challenges.”