ARLINGTON, Va., March 2, 2016 /PRNewswire-USNewswire/ -- Virginia Hospital Center is among the very few independent hospitals in the nation that continue to have a strong financial base. The "AA-" rating, for the second year in a row, signifies that Virginia Hospital Center is of very high credit quality and solidifies its place in an elite group typically dominated by much larger healthcare organizations.
"This positive credit rating shows that an objective third party has reviewed Virginia Hospital Center's financial picture and found our business practices and outlook to be strong," says James B. Cole, President & Chief Executive Officer. "It demonstrates our commitment to be good stewards of our resources and ensure we remain financially sound into the future to improve care and services for our community, invest in technology, recruit the best physicians and staff, and expand our campus to meet growing needs."
"The Fitch rating is strong and maintains a stable outlook at a time of significant margin pressures for our industry," says Robin Norman, Senior Vice President and Chief Financial Officer, Virginia Hospital Center. "Fitch notes that we have adequate debt capacity for expansion, which allows us to purchase the land adjacent to the hospital to complete an expansion project. It also reiterates that at peak time utilization is pressing up against capacity. And it speaks to our plans to implement a new IT platform."
About Virginia Hospital Center:
Virginia Hospital Center has provided exceptional medical services to the Washington, DC metropolitan area for over 70 years and was named a 2015 Top Hospital by The Leapfrog Group and one of America's 100 Top Hospitals® and 50 Top Cardiovascular Hospitals® by Truven Health Analytics. The Hospital is a proud member of the Mayo Clinic Care Network – a national network of independent healthcare organizations. Virginia Hospital Center is a 350-bed not-for-profit, teaching facility, and it is designated as a Magnet® hospital by the American Nurses Credentialing Center. For more information on Virginia Hospital Center Health System, please visit www.virginiahospitalcenter.com.
About Fitch Ratings:
Fitch Ratings is a leading provider of credit ratings, commentary and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective and insights we provide has helped investors fund a century of growth and make important credit judgments with confidence. For more information, please visit Fitch Ratings.
SOURCE Virginia Hospital Center