Standard & Poor’s has raised its long-term ratings from ‘AA-’ to ‘AA’ for Texas Health Resources. The dual ratings for various of the health system’s outstanding bonds were also raised from ‘AA-/A-1+’ and ‘AA-/A-1’ to ‘AA/A-1+’ and ‘AA/A-1,’ respectively.
“This is what focused efforts can accomplish even in the midst of a rapidly changing health care environment,” said Douglas D. Hawthorne, CEO of Texas Health Resources, in a statement.
The report attributes the ratings upgrade to a strong management team, continued good operating results, and a leading position in the competitive Dallas-Fort Worth market. Texas Health currently sees the highest share of inpatients with 26.5 percent, leading outpatient discharges as well with 22.2 percent of the market. HCA and Baylor Scott & White Health follow close behind. According to the report, published June 2, the outlook is “stable,” citing “solid operating income levels.”