“The revised outlook reflects improved operating performance and debt service coverage and some balance sheet growth, though certain metrics remain below median levels due to very high debt,” said S&P credit analyst Jessica Goldman.
The rating affirmation is based on several factors, including the stability provided by the Maryland rate-setting system, which diminishes the payer mix’s effect, reduces the burden of uncompensated care and eliminates market power issues from health plan negotiators.
The stable outlook reflects S&P’s expectation that Mercy will be able to sustain its recent improvement and continue to build balance sheet strength over time.
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Why HCA is taking the road less traveled when it comes to expansion
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