Thursday, August 30, 2018
Fitch Grades STPH A+ with Positive Outlook
COVINGTON – St. Tammany Parish Hospital earned A+ Issuer Default Rating (IDR) from Fitch Ratings for current and future debt. Additionally, Fitch assigned STPH a Positive Outlook for the future. This rating is significantly higher than its previous rating of A with Stable Outlook.
According to Fitch, the upgrade reflects STPH’s “strong trend in operating performance, further growth in unrestricted liquidity and increasing patient volumes.”
STPH Board Chairman John Evans said, “STPH has worked very hard to accomplish this prestigious upgrade. Our board has been dedicated to position our community hospital for continued success into the future. This A+ Positive Outlook rating is one more step toward that goal.
“We are grateful to each and every employee, physician, associate and partner of the hospital that made this upgrade possible,” he continued. “Additionally, we thank Fitch for taking the time to understand our hospital, our mission to serve and our resolve to be financially responsible as we continue to provide world-class healthcare, close to home.”
Fitch indicated the A+ Positive Outlook acknowledges the strengthening of STPH’s credit profile and balance of risk, as STPH embarks upon a 3-year, $100 million expansion project that will include a new addition for private patient rooms, expanded critical care, women’s and children’s services.
A full-service acute care facility committed to providing world-class healthcare and the latest technology, St. Tammany Parish Hospital delivers today’s life-improving procedures with the utmost care to area residents with emphasis on wellness, preventive care and disease management close to home. STPH is recognized for quality, safety and the patient experience by Leapfrog, Hospital Compare, Healthgrades, CareChex and Women’s Choice. STPH is a self-supporting not-for-profit community hospital; it receives no ad valorem tax funding. STPH is in a long-term strategic partnership with Ochsner Health System. Learn more at stph.org.