MONROE - Investment giant Moody's affirmed the Monroe Clinic's A3 credit rating last week, citing good profit to debt ratio.
Monroe Clinic received a "stable outlook" from the New York investment service last week. Moody's said the rating is stable because Monroe Clinic, a non-profit hospital, has generated enough money to pay back its municipal bonds.
"Monroe Clinic was pleased that Moody's affirmed its A3 rating (last Wednesday)," Monroe Clinic CFO Jim Nemeth said in an email.
According to the press release from Moody's, the credit rating is reflected by the clinic's good track record of debt, interest and expenses payments, the amount of cash on-hand after payments, favorable market position, and its ability to pay down its debts.
The clinic was also cited for having "notable enterprise growth," according to Moody's finding.
But Moody's rating came with warning. The investment firm said that if the company's payments increase while their income remains the same, their credit rating could go down in the future.
Moody's also said the hospital faces some serious challenges including competition from Janesville and Madison hospitals,
For now, the Monroe Clinic benefits greatly from the good services it provides in Green County and it's strong ability to pay off debts while maintaining a profitable income, Moody's findings said.
"(The rating) recognizes the success Monroe Clinic has had and is an indication that the Clinic is well positioned for the future," Nemeth said.
He said the rating, combined with the clinic's recent accomplishments of the 5-Star rating by the Center for Medicare and Medicaid shows the company's commitment to quality health care in a community setting.
- By David Litin
Monroe Clinic received a "stable outlook" from the New York investment service last week. Moody's said the rating is stable because Monroe Clinic, a non-profit hospital, has generated enough money to pay back its municipal bonds.
"Monroe Clinic was pleased that Moody's affirmed its A3 rating (last Wednesday)," Monroe Clinic CFO Jim Nemeth said in an email.
According to the press release from Moody's, the credit rating is reflected by the clinic's good track record of debt, interest and expenses payments, the amount of cash on-hand after payments, favorable market position, and its ability to pay down its debts.
The clinic was also cited for having "notable enterprise growth," according to Moody's finding.
But Moody's rating came with warning. The investment firm said that if the company's payments increase while their income remains the same, their credit rating could go down in the future.
Moody's also said the hospital faces some serious challenges including competition from Janesville and Madison hospitals,
For now, the Monroe Clinic benefits greatly from the good services it provides in Green County and it's strong ability to pay off debts while maintaining a profitable income, Moody's findings said.
"(The rating) recognizes the success Monroe Clinic has had and is an indication that the Clinic is well positioned for the future," Nemeth said.
He said the rating, combined with the clinic's recent accomplishments of the 5-Star rating by the Center for Medicare and Medicaid shows the company's commitment to quality health care in a community setting.
- By David Litin