Marion General Hospital's A+ Bond Rating Affirmed
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 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 report reflects S&P’s view of Marion Health’s:
- Sound operations that showed improvement after declining for two fiscal years;
- Healthy maximum annual debt service (MADS) coverage; and
- Transitioning management team, which has put in position the future leadership team for Marion Health to train under the current leadership team.
Partly offsetting the above strengths, in S&P’s view are Marion Health’s:
- Flat population base; and
- Unemployment rate that is higher than the state and national averages.
The rating is a significant accomplishment for Marion Health because few independent, nonprofit healthcare organizations receive an A+ bond rating.