MEDICAL
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Standard & Poors Corp. and Moody’s Investors Service have affirmed their high credit ratings for St. Joseph Health System in Orange.
Officials of St. Joseph, a nonprofit operator of several hospitals and the Health Plan of America health maintenance organization, made their biannual presentation to the financial rating services in December. S&P; gave the company an A+ rating; Moody’s gave it an A1.
The “A” rating is considered “investment grade,” indicating a minimal risk that a corporate bond issue will default.
Many hospitals have experienced downgradings in credit ratings over the past several years in the face of lower occupancy rates.
“Our strong occupancy rates . . . as well as positive performance projections for the next 5 years persuaded the agencies to continue our high ratings,” said President Robert O’Leary.
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