PINEHURST – Standard & Poor’s and Fitch Ratings have affirmed the “AA-” and “AA” ratings, respectively, on FirstHealth of the Carolinas revenue bonds issued by the North Carolina Medical Care Commission.
Both agencies have assigned a Stable Outlook.
Key rating drivers include FirstHealth’s strong market position in its primary service area, “robust liquidity,” a “moderate debt burden” and history of stable profitability. FirstHealth is among the highest-rated health care systems in the state.
“We are very pleased at this evidence of the rating agencies’ continued confidence in FirstHealth,” says Lynn DeJaco, chief financial officer for FirstHealth of the Carolinas. “While all hospitals are struggling with reduced payments from Medicare and Medicaid, this rating affirmation recognizes FirstHealth's strong balance sheet and prospects for ultimate success.”
Standard & Poor’s Ratings Services, part of The McGraw-Hill Companies, is the world’s leading provider of independent credit risk research and benchmarks. The full Standard & Poor’s release can be viewed at www.standardandpoors.com.
Fitch Ratings has been analyzing independent and prospective credit ratings, commentary and research for 100 years. The entire Fitch Ratings release can be viewed at www.fitchratings.com.