Moody’s affirms Tidelands Health’s A3 credit rating
Aug. 4, 2015
Moody’s Investors Service has affirmed Tidelands Health’s A3 credit rating with a stable outlook, an indication of the health system’s operational stability and strength.
In its latest rating update, Moody’s cited Tidelands’ “stable financial performance, strong market share in the primary service area and good patient volume growth in certain service lines” as the basis for the A3 rating. Moody’s also recognized the health system’s good balance sheet measures.
An organization’s credit rating is similar to an individual’s credit score. The higher an organization’s credit rating, the more stable the organization is considered to be.
“We are pleased by the confidence Moody’s has shown in our health system by affirming our A3 rating,” said Terry Kiser, Tidelands’ chief financial officer. “As a not-for-profit health system, our credit rating is an external validation of our financial health and future outlook.
“Just like in school, it’s a great accomplishment to earn an A, and we’re very proud of the 2,000-plus employee, physician and volunteer partners who work every day to make Tidelands Health the best we can be for the patients and communities we serve.”
Tidelands Health is the region’s largest health care provider. Founded in 1950 in Georgetown, the health system has grown to include three hospitals and more than 40 outpatient locations stretching from North Myrtle Beach to Andrews. More than 200 physicians practice medicine across the Tidelands organization.
NOTE: Tidelands Health is the DBA name for Georgetown Hospital System.