ARLINGTON, Texas, April 16, 2015 /PRNewswire-USNewswire/ -- Texas Health Resources announced that Moody's Investors Service upgraded its rating to Aa2 from Aa3 for the health system's bonds, and Standard & Poor's Ratings Services affirmed its AA rating. Moody's revised its outlook to "stable" from "developing", and S&P maintained their "stable" outlook. Both rating agencies are publishing reports in conjunction with Texas Health's upcoming $360 million bond issuance. The complete reports will be available through online investor information services, as they become available.
Moody's report cited Texas Health's "multi-year trend of strong operating performance and very good liquidity" as factors in its upgraded rating. The report also said the system's response to the Ebola event last fall demonstrated "the system's financial resiliency and effective management."
Texas Health CEO Barclay Berdan said, "This is great news for Texas Health and is a reflection of the hard work and outstanding accomplishments of people throughout our health system to improve patient care and operations while managing costs."
About Texas Health Resources
Texas Health Resources is one of the largest faith-based, nonprofit health systems in the United States. The health system includes 24 acute care and short-stay hospitals that are owned, operated, joint-ventured or affiliated with Texas Health Resources. It includes the Texas Health Presbyterian, Texas Health Arlington Memorial, Texas Health Harris Methodist and Texas Health Huguley Hospitals, Texas Health Physicians Group, outpatient facilities, behavioral health and home health, preventive and fitness services, and an organization for medical research and education.
For more information about Texas Health Resources, call 1-877-THR-WELL, or visit www.texashealth.org.
SOURCE Texas Health Resources