SOUTH BEND – Fitch and Standard & Poors have established a rating of AA- / Stable for Beacon Health System, an affiliation between Elkhart General Hospital and Memorial Hospital of South Bend. The rating is a direct reflection of the success of the two organizations affiliating and the solid financial position Beacon enjoys.
In conjunction with Beacon’s new Bond ratings, action has occurred with bond issues that will remain outstanding. Fitch has upgraded the Elkhart General Hospital Series 2008 Bonds from A+ to AA- and affirmed the rating on the Memorial Health System 2008A Bonds. Moodys has withdrawn its rating on the Elkhart General Hospital 2008 Bonds as a result of Elkhart General Hospital joining the Beacon Health System obligated group. This upgrade is another important direct positive outcome from the affiliation.
