St. Luke’s earns strong bond ratings
St. Luke’s University Health Network has been awarded an A- bond rating by S&P Global Ratings and an A3 rating by Moody’s Investor Services, bucking a downward trend in the nonprofit hospital industry both nationally and locally.
“The ‘A-’ rating reflects our opinion of SLUHN’s increasing market share in its primary service area, healthy volume growth, and very strong leadership team that has demonstrated operational success and strong project management,” S&P said in its report on St. Luke’s Northampton County General Purpose Authority 2018A and 2018B bonds, as well as to other debt issued in prior years for St. Luke’s.
Moody’s also lauded St. Luke’s leadership, citing its “proven track record of integration and ability to manage multiple strategies.”
Earlier this year, St. Luke’s merged with Blue Mountain Health System in Carbon County and Sacred Heart HealthCare System in Lehigh County.
Moody’s said St. Luke’s “broad geographic reach, strong market position as well as size and scope of operations will continue to fuel robust operating momentum as the System’s financial leverage rises.”
In March, St. Luke’s was designated an IBM Watson Health 100 Top Hospital for a sixth time and the fourth year in a row — widely regarded as one of the highest honors in the health care industry.
