Cleveland, OH,
22
February
2017
|
04:00 PM
Europe/Amsterdam

S&P Reaffirms A- Rating on MetroHealth Bonds

The A-rating reflects the “steady financial trend through an ongoing transformational program, which includes solid commercial rate increases, revenue cycle management and cost control.”

MetroHealth announced today that S&P reaffirmed its A- long-term rating on MetroHealth’s 2009B taxable hospital revenue bonds.

According to S&P, the “affirmation of the A- rating reflects S&P Global Ratings assessment of MetroHealth’s strong enterprise profile and adequate financial profile. The strong enterprise profile reflects MetroHealth’s essentiality to the county, including its role as one of the region’s largest Level 1 adult trauma center and safety net provider.”

S&P also noted “We believe that the larger Campus Transformation Plan will further support MetroHealth’s programmatic and ambulatory strategy work, which has occurred successfully over the past several years.”

S&P said the A-rating reflects the “steady financial trend through an ongoing transformational program, which includes solid commercial rate increases, revenue cycle management and cost control.”

S&P also placed the bonds on Credit Watch with negative implications in anticipation of the “potential for additional debt” related to the Campus Transformation. However, it also noted that their “expectation is that if the MetroHealth rating were to be revised, it would remain in the 'BBB' category.”