Published on: 10/19/2021
Nicklaus Children's Health System (NCHS) has received an A+ bond rating from Fitch Ratings and an A rating from Standard and Poor’s. The health system, which includes a nonprofit 309-bed freestanding children's hospital and an expansive network of pediatric outpatient centers extending throughout South Florida, was also recognized by the agencies as having a positive (Fitch) and stable (Standard and Poor’s) outlook for the future.
“We are delighted that both rating agencies issued an improvement in our credit rating and outlook,” said Matthew A. Love, President and CEO. “This achievement is a tribute to the hard work of our entire Nicklaus Children’s Health System family, and our shared focus on employees, operational fundamentals and strategic growth. Maintaining a strong financial position in the marketplace enables us to advance our mission to expand access to quality care for children in our community and beyond,” he said.
The health system was recognized for its strong business position in pediatric healthcare, an expanding ambulatory footprint and increased hospital affiliations in the region. In January 2021, the health system implemented a three-year strategic plan to guide it toward the future and has already made significant strides toward achieving key goals set forth in the plan.
Among accomplishments highlighted in the rating agency analyses, the health system resumed its historic profitability in 2020, after a dip in 2019. A new leadership team which joined the organization in late 2019 and early 2020 has helped lead this transformation.