Texas Children’s entered FY19 with a renewed focus on improving operational effectiveness and maintaining our financial excellence, goals that allow us to continue developing, expanding and reinvesting in our mission to provide the very best care for our patients and families.
Our recent credit ratings from the nation’s top three credit agencies are proof we’re accomplishing those goals.
The agencies – Moody’s, Standard & Poor’s and Fitch – have once again affirmed Texas Children’s high credit ratings (Aa2, AA and AA respectively), as well as a stable financial outlook. It is the 23rd straight year Texas Children’s has maintained outstanding credit ratings.
“This is fantastic news and it speaks volumes about Texas Children’s,” said President and CEO Mark Wallace. “The agencies’ ratings are certainly a reflection of our consistently strong financial performance, but their analysis goes beyond just the numbers. They also noted our world-class medical staff, our seasoned management team, and our successful expansion efforts, including the completion of the Lester and Sue Smith Legacy Tower and our growth in Austin. We should all be very proud of this achievement.”
Each year, the agencies analyze financial, operational and strategic data to determine our ratings, which can be compared to a company’s stock price or a person’s credit score. A great rating for Texas Children’s means that we are a financially sturdy organization that can easily meet our financial commitments, which leads to job security for each and every employee.
All three agencies cited Texas Children’s track record of clinical excellence, robust research programs, exceptional reputation, outstanding fundraising capabilities and strong financial position as key reasons for the ratings.