“The upgrade to ‘AA-‘ reflects Carilion’s sustained improvement in its financial profile, with three consecutive years of operating margins over 3.5 percent[,] averaging 3.9 percent for fiscal years 2014 through 2016 … improved liquidity and financial flexibility that is consistent with ‘AA-‘ medians, and very strong enterprise profile with a solid and leading business position and experienced management team that is delivering on its key strategic initiatives, providing additional credit strength at the higher rating,” said S&P analyst Stephen Infranco.
The outlook is stable, reflecting S&P Global Ratings’ expectation the organization will sustain its recent operating improvement.
More articles on healthcare finance:
4 questions with Piedmont VP of revenue cycle Brian Unell
For-profit stock report: Week of May 22-26
California lawmakers want to use tobacco tax revenue for provider payments
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.