{"id":13509,"date":"2024-02-29T07:56:25","date_gmt":"2024-02-29T12:56:25","guid":{"rendered":"https:\/\/blogs.cooperhealth.org\/news\/?p=13509"},"modified":"2024-07-19T16:02:20","modified_gmt":"2024-07-19T20:02:20","slug":"sp-global-improves-coopers-credit-rating-to-a-with-positive-outlook","status":"publish","type":"post","link":"https:\/\/blogs.cooperhealth.org\/news\/2024\/02\/sp-global-improves-coopers-credit-rating-to-a-with-positive-outlook\/","title":{"rendered":"S&amp;P Global Improves Cooper\u2019s Credit Rating to \u201cA\u201c With Positive Outlook"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13510\" src=\"https:\/\/blogs.cooperhealth.org\/news\/files\/2024\/02\/Social-Media_SP.jpg\" alt=\"\" width=\"1080\" height=\"1080\" srcset=\"https:\/\/blogs.cooperhealth.org\/news\/files\/2024\/02\/Social-Media_SP.jpg 1080w, https:\/\/blogs.cooperhealth.org\/news\/files\/2024\/02\/Social-Media_SP-300x300.jpg 300w, https:\/\/blogs.cooperhealth.org\/news\/files\/2024\/02\/Social-Media_SP-1024x1024.jpg 1024w, https:\/\/blogs.cooperhealth.org\/news\/files\/2024\/02\/Social-Media_SP-75x75.jpg 75w, https:\/\/blogs.cooperhealth.org\/news\/files\/2024\/02\/Social-Media_SP-768x768.jpg 768w\" sizes=\"auto, (max-width: 1080px) 100vw, 1080px\" \/>Cooper University Health Care\u2019s credit rating for bonds issued by Camden County Improvement Authority was upgraded by S&amp;P Global Ratings (S&amp;P) to an \u201cA\u201c with a positive outlook. This is the second-straight year S&amp;P has increased Cooper\u2019s credit rating. This follows an A+ credit rating from Fitch Ratings earlier in the month.<\/p>\n<p>\u201cS&amp;P\u2019s upgrade for a second year in a row is yet another validation of our thoughtful growth strategies and speaks to a remarkable turnaround for Cooper that was near bankruptcy at the turn of the century and is now a leading academic health system,\u201d said George E. Norcross, III, Chairman of the Board of Trustees of Cooper University Health Care. \u201cThousands of Cooper team members who work, day and night, to provide the best health care to our patients are responsible for this achievement.\u201d<\/p>\n<p>S&amp;P cited \u201cCooper&#8217;s sustained trend of healthy operations despite elevated labor costs and inflationary pressures\u201d while noting that \u201cmanagement has remained focused on improving financials through cost containment and revenue enhancement, accountability, and group purchasing programs.\u201d<\/p>\n<p>\u201cCooper team members have worked diligently to grow Cooper into an elite, nationally recognized academic health system with patients from all 50 state and more than 35 countries. For a second straight year, S&amp;P has validated our prudent growth strategies and the success of our dedicated team members who tirelessly serve our patients, their families, and each other,\u201d said Kevin O\u2019Dowd, JD, co-CEO of Cooper University Health Care.<\/p>\n<p>S&amp;P also noted that Cooper \u201cmanagement has remained focused on increasing market share and has prioritized developing, enhancing, and promoting its key services to gain more tertiary referrals and limit outmigration to the Philadelphia academic medical centers.\u201d<\/p>\n<p>\u201cOur teams have successfully focused on becoming an exceptional academic health system and managing our finances to allow us to grow to meet increasing demand from patients and this increased credit rating demonstrates we are on the right track,\u201d said Anthony Mazzarelli, MD, JD, MBE, co-CEO of Cooper University Health Care.<\/p>\n<p><strong>About Cooper University Health Care<\/strong><\/p>\n<p>Cooper University Health Care, with its <a href=\"https:\/\/www.cooperhealth.org\/services\/md-anderson-cancer-center-cooper\">MD Anderson Cancer Center at Cooper<\/a> and affiliation with<a href=\"https:\/\/cmsru.rowan.edu\/\"> Cooper Medical School of Rowan University<\/a>, is a leading academic health system. Cooper has more than 10,000 team members including nearly 1,600 nurses, more than 950 employed physicians, and more than 550 advanced practice providers. Cooper University Hospital has been recognized as a top-performing regional hospital by U.S. News &amp; World Report\u2019s 2023-2024 Best Hospitals annual survey.<\/p>\n<p>Cooper has revenues of more than $2 billion and, along with its new upgraded \u201cA\u201d rating from S&amp;P, recently received an A+ credit rating from Fitch Ratings. Cooper University Hospital is the only Level 1 Trauma Center in South Jersey and the busiest in the region.\u00a0More than two million patients are served annually at Cooper\u2019s 663-bed flagship hospital, outpatient surgery center, three urgent care centers, and more than 100 ambulatory offices throughout the community. Cooper has been named as one of America\u2019s Best Employers by Forbes for three consecutive years.<\/p>\n<p>The Cooper Health Sciences campus in Camden, New Jersey, is home to Cooper University Hospital, MD Anderson Cancer Center at Cooper, Children\u2019s Regional Hospital at Cooper, and Cooper Medical School of Rowan University. Visit CooperHealth.org to learn more.<\/p>\n<p>###<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cooper University Health Care\u2019s credit rating for bonds issued by Camden County Improvement Authority was upgraded by S&amp;P Global Ratings (S&amp;P) to an \u201cA\u201c with a positive outlook. This is the second-straight year S&amp;P has increased Cooper\u2019s credit rating. This follows an A+ credit rating from Fitch Ratings earlier in the month. \u201cS&amp;P\u2019s upgrade for &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/blogs.cooperhealth.org\/news\/2024\/02\/sp-global-improves-coopers-credit-rating-to-a-with-positive-outlook\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-wmarano","4":"post-13509","6":"format-standard","7":"category-press-releases"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P Global Improves Cooper\u2019s Credit Rating to \u201cA\u201c With Positive Outlook - Inside Cooper<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blogs.cooperhealth.org\/news\/2024\/02\/sp-global-improves-coopers-credit-rating-to-a-with-positive-outlook\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&amp;P Global Improves Cooper\u2019s Credit Rating to \u201cA\u201c With Positive Outlook - Inside Cooper\" \/>\n<meta property=\"og:description\" content=\"Cooper University Health Care\u2019s credit rating for bonds issued by Camden County Improvement Authority was upgraded by S&amp;P Global Ratings (S&amp;P) to an \u201cA\u201c with a positive outlook. 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