Cites exceptional financial performance, strong management team
Moody’s Investors Service has affirmed its AA3 rating and stable outlook for Scripps Health.
“We are pleased with the rating and work very hard to maintain our strength and consistency as a business while never forgetting our community mission and our legacy,” said Chris Van Gorder, president and CEO of Scripps Health. “We are well-positioned for continued success and are confident about our future.”
Moody’s acknowledged Scripps’ strong market position, exceptionally strong financial performance, improved liquidity and the health system’s “stable and seasoned management team” as reasons for its rating. The agency also cited Scripps’ horizontal restructuring in FY 2011 as a driver of the system’s operating improvements over the past two years.
Learn more about Scripps Health, a nonprofit integrated health system in San Diego, Calif.