Rex Healthcare Earns Strong Bond Rating from Fitch Ratings Research Agency
Contact: Alan M. Wolf
RALEIGH, N.C. – Rex Healthcare is pleased to announce that Fitch Ratings has maintained its A+ rating on the hospital system, citing Rex's strong relationship with UNC Health Care and solid financial results.
Fitch analysts pointed to Rex's "strong operating profitability and debt service coverage, improved liquidity and good service area demographics." The rating covers $119.8 million of Rex debt. Fitch's rating outlook is stable.
"We are delighted that Fitch recognizes Rex's strong financial performance," said Chief Financial Officer Bernadette Spong. "Rex co-workers and physicians are to be commended for their contributions to our strategy. We have a solid brand and excellent quality
rexhealth.com for more information., which are reflected in our strong market share."
Earlier this year, another bond-rating agency, Moody's Investors Services, affirmed its A1 rating on Rex. Moody's based its rating on Rex's market position in Wake County, increasing collaboration with UNC Health Care and other factors.
About Rex Healthcare
Rex Healthcare, a member of UNC Health Care, is a private, not-for-profit health care system with more than 5,300 co-workers. Rex Healthcare has 660 beds (433 general acute beds and 227 skilled nursing) and treats nearly 34,000 inpatients each year. Rex offers dedicated centers for cancer, surgery, heart and vascular, post-acute rehabilitation and skilled nursing care, wellness and women’s care plus dedicated services for bariatric, heartburn, pain management, sleep disorders, diabetes education, wound and emergency care. Rex’s medical staff includes more than 1,100 physicians and 1,700 nurses. Rex provides various health care services throughout Wake County with facilities in Apex, Cary, Garner, Holly Springs, Knightdale, Wakefield and downtown Raleigh. Rex was the first hospital in the Triangle to receive Magnet Recognition, placing Rex nurses among the top 6 percent in the nation. Rex was named one of the top 100 Best Places to Work in Healthcare by Modern Healthcare magazine in 2008, 2009 and 2011, and was highlighted as one of the Top 50 Hospitals in the U.S. by Becker’s Hospital Review in 2011. Visit rexhealth.com for more information.