S&P upgrades Torrance Memorial Medical Center’s rating to ‘A’

S&P Global Ratings upgraded its long-term and underlying rating on Torrance (Calif.) Memorial Medical Center’s outstanding debt to “A” from “BBB.”

Advertisement

The upgrade is a result of several factors, including the medical center’s leading market share, healthy payer mix, solid growth trends and strong management team.  S&P also acknowledged the medical center’s limited balance sheet and weakened financial profile.

The outlook is stable.

More articles on healthcare finance:
TransUnion Healthcare keeping contract with VA 
41 hospital, health system outlook and credit rating actions in July
Proposed physician fee changes credit negative for academic med centers, some rural hospitals, Moody’s says

Advertisement

Next Up in Financial Management

  • It’s a directive that hospitals and health systems of every size know well — whether sprawling academic medical centers, multistate…

Advertisement

Comments are closed.