Tuesday, November 27, 2012
Moody’s Affirms Elkhart General Hospital’s A2 Bond Rating Outlook Revised to Positive from Stable
. – Moody’s Investor Services affirms Elkhart General Hospital’s A2 bond rating. The rating outlook is revised to positive from stable.
The affirmation of the A2 bond rating reflects Elkhart General Hospital’s improved financial performance in interim fiscal year (FY) 2012, low leverage position and growth in already strong balance sheet metrics.
Elkhart General Hospital entered into an affiliation with Memorial Health System of South Bend, IN at the end of FY 2011 and financial performance has improved as a new senior management team quickly implemented expense saving initiatives at the hospital.
About Moody’s Investment Services
Moody's is an essential component of the global capital markets, providing credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody's Corporation (NYSE: MCO) is the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities, and Moody's Analytics, which offers leading-edge software, advisory services and research for credit and economic analysis and financial risk management. The Corporation, which reported revenue of $2.3 billion in 2011, employs approximately 6,700 people worldwide and maintains a presence in 28 countries. Further information is available at www.moodys.com.
About Elkhart General Hospital
Elkhart General Hospital is a not-for-profit hospital located in Elkhart, Indiana. The full-service, 325-bed main hospital is comprised of 330 physicians representing more than 30 medical specialties, and over 2,000 employees serving in nursing, technical, administrative, and support capacities. Elkhart General Hospital is a Beacon Health System Care Partner. The Elkhart General Hospital website is www.egh.org. The Beacon Health System website is www.beaconhealthsystem.org.
For more information contact:
Media and Special Events Coordinator
Elkhart General Hospital