Contrary to Rumors, Atlantic City Hospital Earns Stable Rating

Despite rumors to the contrary, AtlantiCare Health System New Jersey has received a very healthy rating, with a stable outlook from the Fitch Ratings Service.

Fitch is an international ratings company.

Here are the facts:

Fitch Affirms AtlantiCare Health System, NJ at 'AA-'; Outlook Stable (fitchratings.com)

• AtlantiCare's 'AA-' rating reflects a strong balance sheet marked by a low debt burden, a leading market share, and Fitch's view that operating performance will continue to rebound and stabilize at levels consistent with the strong operating risk assessment. Fitch's expectation for operating improvement is supported by robust volumes, normalizing wage and labor pressure, and demonstrated cost management.
• The strong financial profile gives AtlantiCare significant flexibility to make strategic investments to grow market share away from the higher Medicaid markets, invest in technology and workforce, and continue to have robust top line revenue growth, while maintaining a balance sheet consistent with the 'AA-' rating.
• The strong financial profile gives AtlantiCare significant flexibility to make strategic investments to grow market share away from the higher Medicaid markets, invest in technology and workforce, and continue to have robust top line revenue growth, while maintaining a balance sheet consistent with the 'AA-' rating.

We reacted out to Michael Charlton, President and Chief Executive Officer for AtlantiCare Regional Medical Center for a comment about the Fitch - AtlantiCare ratings news:

Our AA- bond rating, among the highest in New Jersey, is a testament to the outstanding stewardship of our nearly 7,000 caregivers who consistently provide exceptional, affordable care to the region. It also underscores the impact of our Vision 2030-a transformative initiative designed to uplift our communities and set a new course for healthcare. Unlike the traditional, legacy models of healthcare mergers, acquisitions, and reliance on state subsidies, Vision 2030 offers a clear path forward for how healthcare should be delivered and experienced. At AtlantiCare, the health and wellbeing of the communities we serve is always our top priority, and we remain committed to our mission. We are grateful that Fitch recognizes our leadership in healthcare and the promising future we are building, said Charlton.