ARLINGTON, Texas — Two of the nation's leading rating agencies have released their latest credit assessments of Texas Health Resources (THR). Moody's Investors Service has notified THR that its latest debt rating for the organization remains unchanged at A1 and Standard & Poor's has issued an A+ debt rating for the organization. The ratings follow recent visits by both rating agencies to THR.
In late 2002, THR announced plans for a 10-year, $1.5 billion investment campaign in its hospitals and related facilities. The money to fund this campaign will come from hospital operations, philanthropy and the sale of tax-exempt bonds. The evaluation by the rating agencies is a critical step to the sale of tax-exempt bonds.
"We are pleased that Moody's and Standard and Poor's have recognized THR's strong financial performance, commitment to our mission of improving the communities' health and sound strategic planning," said Doug Hawthorne, THR's president and chief executive officer. "This is a big step forward in achieving our long-range strategic plan, the Blueprint for Health Care Delivery."
"We plan to issue tax-exempt bonds in May 2003. The sale of bonds is vital to the success of our 10-year capital investment plan," explained Ron Bourland, THR's chief financial officer.
About Texas Health Resources Texas Health Resources is one of the largest faith-based, nonprofit health care delivery systems in the United States. The system serves 29 counties with a population of 5.4 million people. THR serves one of every five people living in these counties for inpatient hospital care. THR was formed in 1997 and is comprised of hospitals in Dallas, Collin, Tarrant and other counties in North Texas.