Hawaii's Queen's Health System Maintains A+ Rating From S&P
April 20, 2010
Standard & Poor's reaffirmed Honolulu-based Queen's Health System's A+ long-term bond rating on around $365 million of outstanding debt for the fiscal year ended June 30, 2009, according to a report in the Pacific Business News (Honolulu).
S&P reaffirmed the rating due to Queen's ability to keep a strong balance sheet including its investments and real estate portfolio, according to the release. The ratings firm also noted Queen's 28.2 percent market share as the second-largest healthcare system in Hawaii.
Total operating revenue for Queen's increased 6.1 percent in 2009 to $748.5 million, up from $705.7 million in 2008, according to the report.
Read the Business News's report on Queen's S&P rating.
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