Moody’s Reaffirms Erlanger’s Baa2 Bond Rating

Friday, August 9, 2013

Moody’s Investor Services reaffirmed the Erlanger Health System’s Baa2 bond rating on Wednesday. Moody’s analysts attributed the latest rating assessment to “a new dynamic chief executive officer with operational improvement experience at large tertiary academic hospitals” who “will lead the turnaround initiatives.”

The report noted that Erlanger is working toward additional supplemental payments through the Public Hospital Supplemental Payment Pool, a designated pool for safety net hospitals in Tennessee.

Erlanger’s designation “as a ‘safety net’ hospital has resulted in annual state-funded essential access payments and new disproportionate share payments, although funding of programs are not guaranteed into the future,” analysts stated.

“The affirmation from Moody’s is a vote of confidence in our strategies to improve our financial position,” stated Kevin M. Spiegel, FACHE, Erlanger president and CEO. “This is a call to action for all Erlanger associates to move forward with our cost saving initiatives and growth strategies.”

Moody’s analysts also noted Erlanger’s strong presence in the region. “Erlanger garners a wide regional draw with unique high end acute care services (kidney transplantation, PICU, NICU III, Level I trauma) and a strong market share of 31.3 percent in the total 15-county service area,” the report said. “In addition, Erlanger receives over 4,800 patient referrals (mostly tertiary cases, which represent about 18 percent of its total admissions) from parts of Georgia, Alabama and Tennessee which are outside its 15-county service area.”

In discussing Erlanger’s financial picture, the Moody’s report noted that “further operational improvement is projected for FY 2014” at Erlanger. Analysts also stated that Erlanger’s conservative debt structure and the strong economy of the city, county, and region contributed to Moody’s reaffirmation of Erlanger’s rating.

Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ALLEN, DONNA LYNN  1363 HIGHWAY 157 LOOKOUT MTN, 30750  Age at Arrest: 37 years old Arresting Agency: Hamilton County FAILURE TO APPEAR --- AMOS, SEAN ANTHONY  1030 FAIRWAY VALLEY DRIVE WOODSTOCK, 30189  Age at Arrest: 32 years old Arresting Agency: Chattanooga ASSAULT --- ... (click for more)

PHOTOS: Christmas On The River

The annual "Christmas on the River was held at Ross's Landing. (click for more)

Lung Cancer, The Deadliest Cancer In The United States

This time of year, I remember to give thanks for my faith, my family and friends and my health. Recently, I learned that lung cancer is the deadliest form of cancer in the United States; in fact, more Americans die each year from lung cancer than any other type of cancer. One in 13 men and one in 16 women will develop the disease in their lifetime. It’s important to learn about ... (click for more)

Roy Exum: The Trouble With Chicago

On “Black Friday” night, I saw television footage of what was said to be about 2,000 people marching in protest in Chicago. The very vocal mob descended on the toniest street – Michigan Avenue – to spew its rage over a police officer who shot and killed a 17-year-old, this over a year ago in October of 2014. The just-released tapes of the incident embroiled the blacks who insist ... (click for more)

UTC Defeats Fordham, 50-20, in FCS First Round Game

 "UTC has one of the best defensive lines we have played against all season ... character guys and no trash talking." -- Fordham Quarterback Kevin Anderson in post game comments    Senior quarterback Jacob Huesman threw for 211 yards and three touchdowns and ran for another 154 yards to lead UTC to a 50-20 victory against visiting Fordham ... (click for more)

Red Bank Comeback Trips Hixson In Vandergriff Duals

The last time Red Bank's wrestling Lions faced the Hixson Wildcats in the Hixson gym, Hixson won a close match to earn a spot in the State Duals. These same two teams squared off at Hixson Saturday afternoon in the championship match of the Vandergriff Duals, but the results were different as the Lions rallied for a 34-31 win. Red Bank had won its pool at Hixson Middle ... (click for more)