HYANNIS – The parent company of Cape Cod Hospital, Falmouth Hospital, the Visiting Nurse Association of Cape Cod and others just received a slight bump to its credit rating.
Cape Cod Healthcare (CCHC) was formerly rated at an “A-” by Fitch Ratings of New York. But recently, that score went up to a flat “A.”
The rating agency released a statement that said CCHC’s practices over the last four years had improved. The company reportedly showed continued financial performance, solid coverage of debt, and low leverage.
CCHC Chief Financial Officer Michael Connors said the company’s investments in expanding ambulatory services and two new urgent care centers in Hyannis and Falmouth were funded responsibly.
“By paying close attention to expense control and efficiencies, and making some tough decisions on expenses, we were able to continue to reinvest into the health system in new facilities,” he said.
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