Children's National Medical Center Receives 'A' Bond Rating
December 11, 2013
Washington, DC— Fitch Ratings has upgraded the rating on Children's National Medical Center’s outstanding debt to 'A' from 'A-'. In addition, the Rating Outlook was revised to Stable from Positive, an improved position that reflects Children’s National’s best fiscal year in history. Citing continued sound financial performance, growing volume and sound growth strategies, the global rating agency concluded that Children’s National continues a positive financial performance trajectory.
“At a time when many organizations are being downgraded, it is gratifying to be recognized as one of the strongest pediatric health systems in the nation,” observed Kurt Newman, MD, President and Chief Executive Officer. “Our organization is aggressively pursuing innovative operational and business strategies that enable us to provide the best care for all children.”
Fitch Ratings specifically cited Children National’s strong physician alignment, increased capacity and enhanced relationships with other providers in the region as important indicators of current strength and growth potential. The Fitch Ratings noted that Children’s National has maintained a “leading and growing market position in its service area for pediatric services.” Fitch Ratings also praised the “depth and breadth” of its management team and said Children’s National’s strong financial performance is “expected to be sustained going forward.”
“Clearly our focus on operational discipline, strategic partnerships, and growth in both market share and philanthropy have proven to be the right investments,” according to Doug Myers, Executive Vice President, Chief Financial Officer.
The entire Fitch Ratings release may be reviewed at: https://www.fitchratings.com/creditdesk/press_releases/detail.cfm?pr_id=811262
Contact: Tony Raker or Emily Hartman at 202-476-4500.