Concurrently, Moody’s affirmed its “Aa3” rating on Sharp Healthcare’s parity debt, affecting $509 million of debt.
The assignment and affirmation is a result of several factors, including the health system’s strong balance sheet metrics, growing market share, wide array of clinical offerings and stable strategic position. Moody’s also acknowledged the health system’s challenging payer mix, weaker operating performance in fiscal year 2017, upcoming capital spending and highly competitive market.
The outlook is stable, reflecting Moody’s expectation that Sharp Healthcare will maintain its favorable balance sheet despite the upcoming period of high capital spending.
More articles on healthcare finance:
12 recent hospital, health system outlook and credit rating actions
Doylestown Health receives 2 record-setting $5M donations
10 grants, donations to healthcare organizations in November
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
