Standard & Poor’s Rating Services and Fitch Ratings have affirmed a AA- rating with a stable outlook for Scripps Health, acknowledging Scripps’ financial performance, market position and management team.
“We are pleased that S&P and Fitch have now reaffirmed our rating and outlook, joining Moody’s in their strong assessment of our organization,” said Chris Van Gorder, president and CEO of Scripps Health. “Scripps works hard to be successful as a business so we can continue fulfilling our mission to serve this community. We are confident about our ability to do so into the future.”
Fitch acknowledged Scripps’ “excellent management practices,” saying it “believes Scripps Health’s history of consistently strong financial performance is a reflection of a strong management team that has focused on enhancing productivity, investing in infrastructure, expanding operations, and maintaining cost control vigilance.”
Standard & Poor’s also recognized Scripps’ management team, saying it “demonstrates a proven ability to deliver strong results.” Standard and Poor’s went on to say Scripps management is “forward-looking and maintains a well-articulated strategic plan incorporating strategies to ready Scripps for health care reform with a focus on physician alignment, cost reductions, quality improvement, and other initiatives.
Learn more about Scripps Health, a nonprofit integrated health system in San Diego, Calif.