Scripps Health’s AA rating and stable outlook has been affirmed by Fitch Ratings, S & P Global Ratings and Moody’s Investors Service. The health system has a strong balance sheet, strong operations and has maintained a low leverage position, Fitch said. The credit rating agency expects Scripps will continue generating operating levels that are consistent with historical trends following recovery from the pandemic.
“We are pleased with the rating agencies’ affirmation of our rating and outlook,” said Chris Van Gorder, president and CEO of Scripps Health. “We believe we are doing what it takes to succeed in a new and challenging health care environment, made even more so by COVID-19. These ratings are indicative of the agencies’ belief in the strength of Scripps, and in our ability to continue to meet the health care needs of this region into the future.”
S & P cites Scripps’ “strong management team that has proven its ability to execute strategies and deliver strong results for many years,” while Moody’s echoes the strength of the management team, noting the “stable and seasoned management team, which, over the last 19-plus years, has overseen a fundamental transformation of the organization.”