Moody's assigns rating to Jackson-Madison County General Hospital's bonds

Moody's Investors Service has assigned an "A1" rating to Jackson, Tenn.-based Jackson-Madison County General Hospital's $191.4 million of series 2015 hospital revenue refunding bonds.

The rating assignment was supported by a number of factors, including the hospital's leading and growing market position in a broad geographic service area, a track record of
solid operating cash flow margins, and consistent growth in unrestricted liquidity, according to Moody's.

Moody's said JMCGH's credit profile is challenged by a somewhat high debt load resulting in modest debt coverage ratios for the rating category. However, it said the current refunding slightly reduces debt, and current debt coverage levels are adequate given the continued strong performance and growth in unrestricted liquidity.

The outlook for the hospital is stable, which, Moody's said, reflects its belief that with its leading market position and management's focus on maintaining strong performance, JMCGH "will continue to generate double digit operating cash flow margins improving debt coverage measures and growing unrestricted liquidity."

 

More articles on healthcare finance:

Hospitals have 69% overturn rate when appealing RAC claims
15 Kentucky hospitals at risk of closing 
Grady Health System, Blue Cross Blue Shield of Georgia reach agreement

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers