The latest Baxter Health bond rating has been released, and while many healthcare facilities in the country have seen their rating go down since Covid, Baxter Health stayed the same. Moody Ratings released their ratings last week and they gave Baxter Health a Baa3 revenue bond rating, the same rating the received in the last rating two years ago. The hospital’s outlook is listed as stable. The report shows Baxter has approximately $54 million of debt outstanding.
Moody’s website says the affirmation of the hospital’s Baa3 rating reflects improved financial performance and maintenance of liquidity.
Moody says “The stable outlook incorporates a continuation of mid-single digit operating cash flow margins, allowing for incremental liquidity growth.”
Debby Henry, the hospital’s Vice President and Chief Financial Officer, explains what the ratings mean.
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Baxter Health President and Chief Executive Officer Ron Peterson says the Moody Ratings gives bond holders some peace of mind.
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Henry says while the rating doesn’t have an impact on everyday activities, it could affect future business decisions.
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Peterson says he is proud of the rating considering how other healthcare facilities have fared in recent years.
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Peterson says in his research, he has seen where for every one hospital that receives an upgrade from Moody, four have been downgraded.
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