Standard & Poor’s Global Ratings has affirmed and assigned an “A” credit rating with stable outlook to Mercy Medical Center in Cedar Rapids.
The credit analysis factors the financial performance of Mercycare Service Corporation and related organizations such as Mercy Care Management Inc., physician practices and the Mercy Medical Center Foundation.
This positive credit rating reflects Mercy’s financial performance for fiscal year 2016 and the hospital’s success in maintaining a strong balance sheet position while investing in service lines and physician recruitment as identified through a multi-year strategic plan. Mercy also benefits from its participation in the University of Iowa Health Alliance.
Last fiscal year, Mercy also received an “A” rating with stable outlook from Standard & Poor’s; Moody’s Investors Service affirmed Mercy’s strong A2 credit rating, with a stable outlook.