Moody's Affirms "A2" Rating for Summit Health

Moody's Investors Service has affirmed an "A2" bond rating for Chambersburg, Pa.-based Summit Health.

The rating affirmation takes into account Summit's leading market position, track record of strong financial performance (5.4 percent operating margin and 10.8 percent operating cash-flow margin in fiscal year 2013), modest debt load and strong balance sheet metrics. However, Summit does face some challenges, including continuing pressure on inpatient admissions, which dropped by 4 percent in FY 2013.

Still, Moody's has affirmed a stable outlook for the system, expecting Summit to maintain adequate operating margins and liquidity.

More Articles on Hospital Finance:
Advocate Health Care Provides $661M in Community Benefit in 2013  
8 Recent Hospital Rating and Outlook Changes, Affirmations  
Moody's Affirms Aa2 Rating for Saint Francis Health System 

 

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

 

Featured Whitepapers

Featured Webinars