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: BURKS, MONICA  1908 CLEVELAND AVE CHATTANOOGA,  Age at Arrest: 18 years old Arresting Agency: East Ridge THEFT UNDER 500 --- CLARK, JARED LOPAN  480 JUNIPER COURT SPRING CITY, 37381  Age at Arrest: 26 years old Arresting Agency: Soddy Daisy POSSESSION OF CONTROLLED SUBSTANCE ... (click for more)

Comments On The Passing Of Scotty Probasco

Senator Lamar Alexander released the following statement on the passing of Scotty Probasco: "Scotty Probasco was Chattanooga's cheerleader, a vigorous and generous advocate for so many good causes. I am especially grateful for his service on our state's governing board for higher education. He was a close friend. Honey and I will miss him greatly." The Tennessee ... (click for more)

Proud Of Hometown Boy Turned Global Leader, Bob Corker

Time Magazine has it right.  Not only is Chattanooga’s own U.S. Senator Bob Corker one of the “100 Most Influential People in the World,” but he is probably now the most prominent leader in the history of our city.   At a time of extreme frustration with Washington and Congress in general, Bob continues to rise above the division and rancor to build consensus and solve ... (click for more)

Roy Exum: Great Work, Ol’ Pro!

Years ago I was lucky enough to be the seatmate of Scotty Probasco on an airplane bound for somewhere and he taught me a word that has helped me be a much better person than I ever thought I could. We were already swell friends, since he’d watched me grow up at First Presbyterian Church every Sunday with his kids, and he liked some of the stuff I tried to write back then. So ... (click for more)

CAK Beats Soddy-Daisy, 6-2, For Choo Choo Classic Softball Title

Christian Academy of Knoxville finished its run through the rain-shortened Choo Choo Classic with a 6-2 victory over Soddy-Daisy at The Summitt. Three of the Lady Warriors’ runs in the third – and last – inning came on Lady Trojans errors as the 70-minute time limit on the game expired to cap a marathon day in the tournament that was cut from two to one day by heavy rain earlier ... (click for more)

PHOTOS: CAK Drops Soddy Daisy In Choo Choo Finals, 6-2