Fitch affirms St. Tammany Health System’s ‘AA-’ credit rating

Newsroom

Newsroom

Search News

Search
More Filters

Wednesday, August 24, 2022

News

Share this page

Fitch affirms St. Tammany Health System’s ‘AA-’ credit rating

STHS Communication Department, commdept@stph.org

FOR IMMEDIATE RELEASE – Wednesday, Aug. 24, 2022

MEDIA CONTACT: Mike Scott | 985-898-4494 | mscott@stph.org

(STHS photo illustration)

Fitch Ratings has affirmed the ‘AA-’ long-term rating on the series 2018A and 21018B bonds issued by St. Tammany Health System. In addition, Fitch affirmed the health system’s ‘AA-’ Issuer Default Rating, declaring the rating outlook to be stable.

In an analytical conclusion included with its announcement of the upgrade on Tuesday (Aug. 23), Fitch wrote:

St. Tammany's ‘AA- rating reflects the system's strong financial profile and operating risk assessment supported by consistently robust, albeit recently weaker, operating cash flows that have resulted in solid liquidity growth, even during the pandemic and ensuing inflationary headwinds.

The rating also reflects St. Tammany’s leading market share in a growing service area, as well as the Joint Operating Agreement (JOA) in place between St. Tammany and the Ochsner Clinic Foundation and Ochsner Heath System (Ochsner). Under the agreement, St. Tammany and Ochsner coordinate clinical services and share the combined operating income in the service area. This 2014 collaborative agreement, with an initial 20-year term, has created operational efficiencies for St. Tammany and has supported consistent and profitable volume and revenue growth for both parties.

Fitch’s full assessment of St. Tammany Health System, known formally as St. Tammany Parish Hospital Service District No. 1, can be found at FitchRatings.com.

Founded in 1914, Fitch Ratings is one of the “Big Three” credit ratings agencies nationally recognized by the Securities and Exchange Commission. The others are Moody’s and Standard & Poor’s. 

Featured Videos

Video

Get in the Game with St. Tammany UNITED

As October draws to an end, it’s incredible how swiftly time has passed! Today, we celebrated the many achievements of our...

Friday, Nov 1, 2024

Video

Get in the Game with St. Tammany UNITED

As October draws to an end, it’s incredible how swiftly time has passed! Today, we celebrated the many achievements of our...

Friday, Nov 1, 2024

Video

Community Checkup with Joan Coffman for October 2024

As the calendar changes from October to November, President and CEO Joan Coffman catches you up on all that’s going on at...

Thursday, Oct 31, 2024

Video

Community Checkup with Joan Coffman for October 2024

As the calendar changes from October to November, President and CEO Joan Coffman catches you up on all that’s going on at...

Thursday, Oct 31, 2024

Video

Pink Partner profile: Timeless Touch

Meet Brittani Naccari Farrell, Owner/Injector of Timeless Touch Medical Aesthetics in downtown Covington. We are thrilled...

Monday, Oct 28, 2024

Video

Pink Partner profile: Timeless Touch

Meet Brittani Naccari Farrell, Owner/Injector of Timeless Touch Medical Aesthetics in downtown Covington. We are thrilled...

Monday, Oct 28, 2024

Connect