Moody's upgrades Silver Cross rating to A3
NEW LENOX -- Moody's Investors Service recently upgraded Silver Cross Hospital's rating to A3 from Baa1; and the hospital's outlook was revised to "stable" at the new higher rating.
The upgrade to A3 reflects Moody's view that Silver Cross Hospital's consistently strong margins and liquidity over the last five years will continue to improve. The A3 rating also assumes that the hospital's significant market share gains will result in revenue growth through the expansion of key service lines and clinical partnerships.
"Our upgraded Moody's rating is a testament to the strength and resilience of our organization, especially as we've navigated the coronavirus pandemic," said Silver Cross Hospital President and Chief Executive Officer Ruth Colby. "It's also a reflection of our steadfast commitment to quality, prudent management of our financial resources and focus on the future."
Silver Cross earned national recognition for quality, safety and patient ratings. In April, the 300-bed hospital earned its 11th Straight A for Patient Safety from the Leapfrog Group. Last month, Silver Cross was recognized as a 100 Top Hospital by IBM Watson Health for the 8th time; and earlier this week, Silver Cross was named a high-performing hospital for heart and lung care by U.S. News & World Report.