Virginia Hospital Center Receives Bond Rating Upgrade
Fitch Ratings Upgrades Virginia Hospital Center to an “AA-” Rating
Arlington, VA (February 28th, 2014) – Virginia Hospital Center, a leading healthcare facility in the Washington, DC metropolitan area, today announced that Fitch Ratings upgraded the Hospital’s rating to “AA-.” Fitch Ratings specifically highlighted Virginia Hospital Center’s strong operating results based on robust utilization, steady growth of market share in a very competitive service area and strong partnerships with other healthcare organizations in the region. Its Rating Outlook continued to be listed as “Stable.”
“Our rating increase is rare for a stand-alone organization to achieve and demonstrates our commitment to be good stewards of our resources while fulfilling our mission To Be the Best Hospital,” said James Cole, President & Chief Executive Officer of Virginia Hospital Center. “This significant recognition is only possible when there is a total team effort of consistently outstanding financial management. Special acknowledgment goes to the Board of Directors’ Finance Committee and Robin Norman, Senior Vice President & Chief Financial Officer.”
To be rated in Fitch’s "AA-" category signifies that Virginia Hospital Center is of “very high-credit quality” and places the Hospital in elite company. Few hospitals achieve this rating designation and the category is typically dominated by much larger facilities and systems or major academic medical centers. In fact, there are only four healthcare systems of similar size in the nation that achieved this high of a rating from Fitch. The rating increase was even more unique considering industry analysts have projected a negative outlook on not-for-profit hospitals.
About Fitch Ratings
The entire Fitch Ratings release may be reviewed at: www.fitchratings.com.
About Virginia Hospital Center
Virginia Hospital Center has provided exceptional medical services to the Washington, D.C. metropolitan area for 70 years and recently was named one of America’s 100 Top Hospitals® and 50 Top Cardiovascular Hospitals® by Truven Health Analytics. These selections are based completely on objective, public data that measures performance excellence in clinical quality care, patient safety, patient perception of care, operational efficiency and financial stability. Virginia Hospital Center, designated as a Magnet® hospital by the American Nurses Credentialing Center, is a 342-bed not-for-profit, teaching facility offering comprehensive healthcare and multiple, independently recognized Centers of Excellence including: Cardiology & Cardiovascular Surgery, the Reinsch Pierce Family Center for Breast Health, Neuroscience/Stroke, Oncology, Orthopedics (Total Joint Replacement Services), Bariatric Surgery, Palliative Care, Inpatient Rehab, Wound Healing & Hyperbaric, Emergency Services, Women & Infant Health and Urology. For more information, please visit www.virginiahospitalcenter.com.