Baltimore.-based Johns Hopkins Health System had its credit ratings affirmed at "AA-" as it continues to perform well and maintain its prominent role in the Maryland and Washington, D.C., markets, Fitch Ratings reported Dec. 19.
The system is well positioned, despite inflationary pressures and other headwinds, given its strong market share and ability to maintain profitability, the report said. Johns Hopkins holds a 22 percent market share in central Maryland and a 25 percent market share in Johns Hopkins All Children's Hospital's five-county service area around St. Petersburg, Fla.
The health system claimed unrestricted cash and investments of $4.6 billion for fiscal 2022. Its total outstanding debt landed at about $1.9 billion broken into 60 percent fixed rate and 40 percent variable, with 30 percent synthetically fixed, the report said.
Johns Hopkins' footprint includes four Maryland hospitals, one in Washington, D.C., and one in Florida. The consolidated system reported $8.2 billion in revenue for fiscal 2022.