Nicklaus Children's Health System today announced that S&P Global Ratings has upgraded its long-term rating on Nicklaus Children's Hospital bonds from A to A+, with a Stable outlook. The upgrade reflects the health system's multiyear trend of solid operating performance and cash flow, improving unrestricted reserves and continued growth in its market position.
“The continued strengthening of our credit rating reflects the disciplined work of our entire health system and our commitment to building a stronger, more sustainable organization for the children and families we serve,” said Matthew A. Love, President and CEO of Nicklaus Children's Health System. “It also recognizes the progress we are making through strategic growth, clinical excellence and partnerships that are expanding access to specialized pediatric care throughout South Florida so that no child has to leave home for the care they need.”
S&P Global Ratings cited a multiyear trend of solid operating performance and cash flow, improving unrestricted reserves and days' cash on hand, as well as Nicklaus Children's leading and growing position in pediatric health care. The agency also noted the health system's continued focus on strategic growth, clinical excellence and partnerships across its expanding service area.
The agency cited Nicklaus Children's strong market position as the only independent standalone hospital for children in South Florida, along with its expanding hospital affiliations, ambulatory footprint, physician base and clinical service lines. S&P also noted the organization's continued focus on cardiology and cardiovascular surgery, orthopedics, neurology and neurosurgery, and oncology.