LCMC Health Earns A+ Stable Rating from Standard & Poor’s
NEW ORLEANS – LCMC Health announced it has earned an A+ credit rating from Standard & Poor’s.
In a report released on Feb. 25, the credit-rating agency said the rating reflects the healthcare system’s “very healthy operating performance in fiscal 2020 and strong response to COVID-19’s initial surge in New Orleans.”
“LCMC Health’s A+ Stable rating is the result of several factors – our focus on operational efficiency, our growing market share, and the strength of the system,” said Jenny Sarpalius, CFO, LCMC Health, in a release. “In today’s healthcare environment, it is exceptional for a healthcare system to achieve such a rating and is a testament to our firm financial footing and continued commitment to providing the best healthcare to the communities we serve, especially during this past year as we dealt with a historic pandemic. It is our staff, physicians and academic partners who make us A+.”
LCMC Health was formed in 2009. Today, the system includes Children’s Hospital New Orleans, East Jefferson General Hospital, New Orleans East Hospital, Touro, University Medical Center New Orleans and West Jefferson Medical Center.
Standard and Poor’s issues credit ratings for the debt of public and private companies and other public borrowers such as governments and governmental entities. It is one of several CRAs that have been designated a nationally recognized statistical rating organization by the U.S. Securities and Exchange Commission.