Earns A+ Stable Rating From Standard & Poor’s
LCMC Health announced that it has maintained the A+ Stable rating from Standard & Poor’s. LCMC Health is the only not-for-profit system in the New Orleans Metro area and South Louisiana with an A+ Stable rating.
“LCMC Health’s A+ Stable rating is the result of several factors – our focus on operational efficiency, our growing market share, and the strength of the system,” said LCMC Health Chief Executive Officer Greg Feirn. “In today’s healthcare environment it is exceptional for a healthcare system to achieve such a rating and is a testament to our firm financial footing and continued commitment to providing the best healthcare to the communities we serve. It is our staff, physicians and academic partners that make us A+.”
LCMC Health was formed in 2009 by the only freestanding children’s hospital in the State of Louisiana. Today, the system includes Children’s Hospital, Touro, University Medical Center New Orleans (UMC), West Jefferson Medical Center, and New Orleans East Hospital.
LCMC Health continues to strengthen its position in the healthcare market, recently forming a clinically integrated network (CIN) with healthcare leaders and providers across the State. The system’s strong balance sheet, coupled with its moderate debt level, supports its investments in infrastructure, which in turn supports the full continuum of care it offers from birth to end of life. It also reaffirms LCMC Health’s position as an essential provider to the state of Louisiana through its academic partnership with UMC, providing increased access to primary care and the only Level 1 Trauma Unit and Burn Center on the Gulf Coast between Houston, Texas; and Mobile, Alabama.
As a credit-rating agency (CRA), Standard and Poor’s issues credit ratings for the debt of public and private companies and other public borrowers such as governments and governmental entities. It is one of several CRAs that have been designated a nationally recognized statistical rating organization by the U.S. Securities and Exchange Commission.