Bexar County Hospital District Earns Highest AAA Rating from Fitch
It follows another strong rating from Standard & Poor’s earlier this month
The Bexar County Hospital District’s AAA credit rating was affirmed Monday by Fitch Ratings. The AAA rating denotes the highest credit quality. Fitch described the district’s long-term financial outlook as stable.
Earlier this month, Standard & Poor’s Ratings Services affirmed its AA+ rating for the organization.
The Bexar County Hospital District, operating as University Health, is partly financing its $899 million Capital Improvement Program with certificates of obligation. The program includes the Robert B. Green Campus, which opened earlier this year; and the new tower at University Hospital, which opens in April 2014.
“We are pleased that these agencies continue to rate our credit as strong,” said George B. Hernández Jr., president/CEO of University Health. “It demonstrates our commitment to be good stewards of our resources, providing the highest level of medical care as efficiently as possible.”
Fitch praised the Health System’s management as “strong,” its operating history as “sound,” and described its financial profile as “solid with consistently sound operating margins, good liquidity indicators and adequate debt service coverage.”
University Health is a nationally recognized academic medical center and ambulatory network owned by the people of Bexar County. In partnership with UT Medicine, the physician practice group of the UT Health Science Center, the Health System is a recognized leader in advanced treatment options, new technologies and clinical research.