The rating assignment reflects MSMC’s strengthened balance sheet measures, increased volume capture and improved operating profits. The hospital’s operating cash flow increased to over $50 million in each of the last four years. MSMC’s operating cash flow margins ranged between 9.6 percent and 11.9 percent from 2010 to 2012.
The stable rating outlook reflects the expectation that MSMC will meet its fiscal year 2014 forecast, maintain current levels of unrestricted investments and issue no incremental debt above the current financing.
More articles on hospital credit ratings:
Fitch affirms OSF Healthcare System’s ‘A’ rating, outlook stable
Moody’s downgrades Wake Forest Baptist to ‘A2’, outlook stable
Moody’s revises MedStar Health’s outlook to positive
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