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Salem Health Finances Jump

Salem Health Finances Jump

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Published by Saerom Yoo

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Published by: Saerom Yoo on Dec 28, 2012
Copyright:Attribution Non-commercial

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04/15/2014

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Salem Statesman Journal 11/18/2012Page : A01
Copyright © 2012 Salem Statesman Journal 11/18/2012December 3, 2012 2:39 pm / Powered by TECNAVIACopy Reduced to %d%% from original to fit letter page
The financial world is starting to see Salem Hospital as a riskierinvestment, because of the organization’s weak performance in thelast fiscal year, the slow regional economy and the lack of a signifi-cant capital investment since 2009.BothStandard&Poor’sandFitchRatings,thetwocompaniesthatrateSalemHospital’sinvestmentrisks,recentlyhavedowngradeditsbondratingfromA+toA.Theratingsaremeanttohelpinvestorsas-sess the likelihood that the entity would repay its debt.Initially, the rating change doesn’t worry CEO Norm Gruber orchieffinancialandstrategyofficerAaronCrane.Afterall,Astillisastrong rating. But their eyes are on the future, and it’s not lookinggood for the American nonprofit healthcare sector.Standard & Poor’s issued a report this year projecting that toughoperating conditions will hurt the sector’s credit quality and ratings
WHATISTHEHEALTHOFSALEMHEALTH
?
 WORKING FOR A BETTER MID-VALLEY 
 WATCH
S
I . I
NONPROFITADJUSTSOPERATINGPLAN,SEESBONDRATINGDOWNGRADED
SeeHOSPITAL,Page5A
BySaeromYoo
Statesman Journal
ONLINE
See this story at
States-manJournal.com/news
forSalem Health’s recent fi-nancial performance updatesand more photos. Join us fora live chat with CEO NormGruber and chief financialand strategy officer AaronCrane at1p.m. Tuesday.

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