Northshore Conifer posted on May 10, 2010 11:09
Bucking a national trend in which hospitals are experiencing rating downgrades, St. Tammany Parish Hospital announces Standard & Poor’s has upgraded its standard long-term bond rating from BBB to A.
“Our governing body and executive management set a goal to achieve an A rating,” STPH CEO Patti Ellish said. “We are excited and pleased to say we accomplished that goal at a time in which, nationally, downgrades of bond ratings for hospitals have exceeded upgrades during past three years.”
S&P analysts cited “sound operating and financial indicators,” “favorable business position” and “strong leadership and governance” as justification for the upgrade.
"This prestigious upgrade is a direct reflection of the operational partnerships between the governing body, management, the medical staff and every employee of the organization,” STPH Chairman of the Board of Commissioners John Evans said, “all of which have made a concerted effort to constantly focus on quality and safety patient care initiatives. One of the many rewards for providing world-class healthcare close to home is financial success and recognition as an A-rated organization."
S&P, a leading provider of financial market intelligence and an independent provider of credit ratings, is the world’s foremost source of independent credit risk evaluations, investment research and data analysis. Many investors look to S&P for financial research and analysis on stocks and bonds. S&P maintains the S&P 500, one of the most widely followed indices of large-cap American stocks.