MaineHealth maintains A+ rating with S&P
Portland — S&P Global Ratings has affirmed the credit rating assigned to MaineHealth, northern New England’s largest health care system.
The agency affirmed its A+ rating with an outlook of “stable.” This is unchanged from the previous year.
MaineHealth has member health care organizations serving patients in southern, central, coastal and western Maine, as well as Carroll County, N.H. All told, 1.1 million people reside in the area served by MaineHealth.
In its report, S&P Global noted the consistent growth in the system’s operating margins, as well as the organization’s relatively low debt levels and healthy reserves. The report singled out the performance of the system’s flagship hospital, Maine Medical Center in Portland, noting it is seeing growing demand and posting strong financial results. S&P also noted the work being done across the MaineHealth system to integrate its services and align members in ways that should result in financial and clinical improvement.
S&P said that MaineHealth’s upcoming borrowing plans, including funding for an expansion and renovation project at Maine Medical Center, have not negatively impacted the credit-worthiness of the organization, but it did say it would continue to monitor the impact of future borrowing on the organization’s finances.