Richmond, Va.-based VCU Health recently received positive bond ratings from Moody's ("Aa3") and S&P.("AA-"), highlighting the health system's strong financial standing and potential to grow.
The affirmed ratings are an indicator of VCU's strong market presence, unique service offerings and strong management. The system is expanding facilities in central Virginia and strong bond ratings will allow for more improvements, faster.
The bond ratings put VCU among the top 20% of health systems, according to rating stratifications from Moody's. S&P representatives noted that their findings are indicative of a health system with good strategic investments and creates partnerships that support its position in the community as the only academic medical center.
"This latest rating is a direct result of the undeniable hard work of every person at VCU Health," James Siegel, senior vice president and CFO of VCU, said in a March 28 news release. "Our engaged leadership team, staff, providers and clinicians have navigated historic challenges over the past four years. This rating is an indicator of success."
Capital improvements and an increased footprint in the community continue to strengthen the financial standing of VCU. The health system is expanding its service lines to bring more quality care closer to where people live and work.
"This rating doesn't just mean we are financially strong; it's also a testament to VCU Health's unending commitment to providing the highest level of care to each patient," Marlon Levy, MD, interim CEO of VCU Health and interim vice president of VCU Health Sciences, said. "Our credit is strong at the bank, and our reputation is strong in the community."