Standard & Poor’s Affirms CMC’s A- Bond Rating

Standard & Poor’s Rating Services affirmed an “A-” rating for a second year on NH’s Health & Education Facilities Authority’s series 2012 and 2006 revenue bonds issued for CMC.

Published 12/18/2015

Standard & Poor’s Rating Services affirmed an “A-” rating for a second year on New Hampshire’s Health & Education Facilities Authority’s series 2012 and 2006 revenue bonds issued for Catholic Medical Center (CMC). Standard & Poor’s also affirmed CMC’s stable outlook.  
 
Standard & Poor’s noted that the rating reflects a stable market position, good balance sheet metrics characterized by healthy liquidity and moderate debt levels, and historically good maximum annual debt service coverage.

“The hospital is committed to sound fiscal management.” said Joseph Pepe, MD, CMC’s President & CEO.  “We have a strategic plan for growth in a tumultuous industry undergoing a dramatic transformation. Our continued stability as an organization is a credit to sound governance from our Board of Directors and excellent management from the hospital’s financial team.” 
 
CMC’s rating occurs amidst a generally negative outlook on the U.S. not-for-profit health care sector by the ratings agencies.