Fitch Ratings has affirmed the upgraded AA rating with a stable outlook for issued by the Industrial Development Authority of the County of Cape Girardeau, Missouri on behalf of Saint Francis Healthcare System.
“The upgrade of the revenue bonds to ‘AA’ from ‘AA-‘ reflects continued strengthening of SFHS’s financial profile, with further improvement likely due to strong cash flow and limited capital needs. With a robust liquidity position and manageable debt burden, the system has demonstrated resilience through the cycle, even under a forward-looking scenario where a moderate economic disruption is applied. SFHS’s solid financial profile is bolstered by a leading inpatient market position, strong operations, and low future capital spending needs,” according to a statement by Fitch Ratings.
“Investors continue to see the bright future of Saint Francis Healthcare System,” said David Prather, chief financial officer. “Our recently completed facility expansion, our focus on operational excellence, quality care and our exceptional services, staff and physicians have helped us serve the needs of our community.”
Saint Francis completed a multiphased Building on Excellence construction and renovation plan including the new five-story patient Tower with dedicated areas for orthopedics, neurosciences, rehabilitation, surgical and medical services with a new entrance on the facility’s south side. Renovation of the Medical Center’s northeast side includes a new Pavilion for women’s and children’s services and dedicated entrance. The project has added more than 217,000 square feet to the Medical Center, bringing the facility to 1.6 million square feet.