The affirmation is a result of several factors, including the medical center’s stable market position, favorable debt position and improving revenue growth. Moody’s unfavorably viewed the consolidating hospital market in New Jersey, as well as the medical center’s lower-than-average liquidity when compared to similarly rated peers.
The outlook was revised to stable from negative, reflecting the medical system’s revenue growth, which Moody’s expects will improve Holy Name Medical Center’s liquidity position.
“Our improved rating is the collective result of several strategic differentiators, the most critical being Holy Name’s drive to fulfill the value proposition as a low cost, high quality provider and its focus on creating a physician-friendly culture,” said Holy Name Medical Center CFO Ryan Kennedy.
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