(January 14, 2010)--Moody’s Investment Services has affirmed the A2 rating of Methodist Medical Center’s bonds issued by the Illinois Health Facilities Authority. The rating outlook remains stable.
Moody’s recognized Methodist for its healthy balance sheet profile and historically balanced approach to financing capital needs, resulting in a well below average debt burden. The Methodist balance sheet remains very healthy, with strategic and operational successes and a very strong market share position.
Methodist President and CEO Michael Bryant said, “We are very pleased to maintain our high bond rating in this challenging environment where most organizations are being downgraded. It is a compliment to our board, physicians, staff and partners that we have done so well and their efforts have been recognized.”
Cal MacKay, Methodist Senior Vice President and Chief Financial Officer said, “Our cash balance levels and low debt levels put us in a strong position, as well as our high quality and exceptional patient service, to provide for the health care needs of our community. With this financial strength we are able to maintain state of the art technology in both medical equipment and information technology.”
“Our financial strength is just one more way Methodist is ‘Taking You Well’ into the Future,” Bryant concluded.