The rating assignment was supported by a number of factors, including the health system’s continued strong financial performance. CentraCare’s balance sheet metrics remain strong, with unrestricted cash and investments of $591.5 million at the end of fiscal year 2014, up from $505.3 million for 2013.
The health system’s market dominance also supported the rating affirmation. CentraCare maintains the dominant market position in its service area, and provides the only hospital with tertiary level services in the area.
The health system also faces some challenges, which were considered for the rating assignment, such as having a cash-to-debt ratio of 139.4 percent at the end of fiscal year 2014, which compares unfavorably to its rating level’s median of 150.6 percent.
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