Fitch affirms 'BBB-' rating on Norman Regional Hospital's bonds

Fitch Ratings has affirmed the "BBB-" rating on 337-bed Norman (Okla.) Regional Hospital's series 2007, 2005, 2002 and 1996B bonds.

The rating affirmation was supported by the system's strong financial performance. At the end of fiscal year 2014, NRH had $180.5 million in unrestricted cash and investments, or 204.9 days cash on hand. 

The rating affirmation was also supported by NRH's leading market share. The hospital has a market share of approximately 55 percent in its primary service area, while its closest competitor has a market share of about 10 percent.

The hospital also faces some challenges, which were considered for the rating affirmation, such as its high debt burden. NRH's maximum annual debt service equated to 5.2 percent of its fiscal year 2014 revenue.

More articles on hospital credit ratings:

Moody's assigns 'A2' rating to University Hospitals' bonds 
Moody's affirms Carolinas HealthCare System's 'Aa3' rating 
Fitch affirms Frederick Memorial Hospital's 'BBB+' rating 

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars