BOCA RATON, FL (BocaNewsNow.com) — Either Standard and Poor's know that lots of folks in the area are going to get sick — and will pay their bills — or Boca Raton Regional Hospital continues to do something right when it comes to the business of medicine. S&P has upgraded the hospital's rating outlook from “Stable” to “Positive.”
Officials at Boca Raton Regional Hospital (BRRH) today announced that Standard & Poor’s (S&P) Rating Services has affirmed the Hospital’s Investment Grade credit rating and upgraded the organization’s rating outlook from Stable to Positive.
This follows on the heels of a similar affirmation and upgrade by Fitch Ratings in February. In issuing its analysis, S&P stated, “The positive outlook reflects our opinion of BRRH’s improved operating profile and balance sheet with growth in unrestricted reserves, improved debt service coverage in the last fiscal year, and year-to-date results that are ahead of the prior year.”
The rating agency also noted the Hospital’s management efforts to improve efficiency, recruit and align with physicians and partner with other hospitals—all of which should lead to improved operating results.
“This now constitutes two very favorable reviews of the Hospital by the major rating agencies,” said Jerry Fedele, President and CEO at Boca Regional. “Both Fitch and S&P were similar in recognizing our areas of achievement and opportunities for further improvement. We are extremely gratified in earning the upgrades in outlook and will continue our efforts to secure a higher rating.”
BocaNewsNow.com is the leading site for news and information based in Boca Raton, Florida. We have surpassed three million page views.
We remind readers that an arrest is an accusation. Guilt or innocence is determined in a court of law. Please email us at news(at)bocanewsnow.com if the facts of a news story involving you have changed. This is not a mugshot website. While under no obligation to do so, we will effort to update arrest reports when provided with official information by the arrestee.
Note that ip addresses are logged and may be shared with law enforcement in unique situations.
For advertising information or to submit news tips, please email news(at)BocaNewsNow.com. BocaNewsNow(TM) is a Trademark of MetroDesk Media, LLC. The name may not be used without written permission.