Mon Health BBB+ Bond Rating and ‘Stable Outlook’ from Fitch Affirms S&P ‘Stable Outlook’ Finding

Sound financial management practices have once again earned a BBB+ bond rating for Mon Health System from Fitch Ratings, affirming an earlier BBB bond rating from S&P.

Fitch noted that the rating “reflects Mon Health’s improved 2019 operating performance supported by efforts to streamline efficiencies, enhance core service lines and improve physician alignment.” Even with the “challenging fiscal 2020 operating environment given the coronavirus pandemic,” Fitch found that “Mon Health’s demonstrated operating improvement in the final months of fiscal 2020… and ample balance sheet heading into fiscal 2021 should help sustain Mon Health’s financial profile through the pandemic.”

“This strong financial rating from Fitch – at a time of great disruption in the economic environment – is a testament to the women and men of Mon Health System who take their commitment to the community and their neighbors seriously,” said Lisa Simon, CFO and Treasurer of Mon Health System.

“Our team provides the highest standard of care in a warm and caring environment, and our financial rating shows they are efficient and effective in their service. West Virginians deserve to have a choice between a strong, independent hospital system and big, institutional medicine for their care. Mon Health is strong and independent with a 100-year history of serving our community like family. At Mon Health, you can truly feel the difference.”

Simon said strong consumer preference and growth for Mon Health’s cardiovascular, urology, women’s health, primary care, orthopedic and surgical services contributed to the positive future outlook from Fitch.

“Mon Health System is a regional leader in heart care and is the first and only hospital in West Virginia to earn an Atrial Fibrillation (AFib) Accreditation at its flagship hospital in Morgantown,” said David Goldberg, President and CEO, Mon Health System. “Mon Health Medical Center is the only local hospital offering the leading-edge Watchman FLX for AFib treatment. We’ve recently been recognized as the only regional and 24^th national heartCAREcenter in the country and for the ninth year in a row, we received chest pain accreditation from the American College of Cardiology. We are the care provider of choice for matters of the heart.”

“Mon Health Medical Center is recognized as a Center of Excellence for Robotic Surgery for its minimally invasive surgical expertise and Mon Health urologist, Dr. J. S. Rad has been designated as a UroLift® Center of Excellence and Certified Master Surgeon. Mon Health Preston Memorial Hospital is a Bariatric Center of Excellence and just last week Mon Health Stonewall Jackson Memorial Hospital was named a Top 100 Safety Net Hospital. Along with these third party recognitions, and Healthgrades awarding Mon Health Medical Center the highest citings for gynecology care, we have so much to be proud of in advancing the highest quality for care close to home for the patients we serve.”

Fitch said its “forward look shows Mon Health maintaining adjusted leverage metrics,” with “expected operating improvement, continued paydown of debt, and manageable capital needs.”

The Fitch positive outlook for Mon Health System aligns with an assessment from the S&P rating agency in June that the health system has a “stable outlook” and a “well-experienced management team that has overseen a solid performance improvement at the hospital.”