skip to Main Content

New bond ratings reflect Mayo Clinic’s strong financial position

Rochester, MN (KROC AM News) – Two of the nation’s major rating agencies have included very positive comments in their summaries of two large ongoing bond sales related to the Mayo Clinic.

Proceeds from a $265 million sale will be used by Mayo Rochester. The other sale is for bonds totaling $252 million and will be used for expenses at the Mayo site in Arizona.

Both have received high ratings from Moody’s and S&P.

In its report, Moody’s commented on Mayo’s favorable outlook for its patient demand and significant donor contributions. Moody’s also notes that Mayo’s planned capital expenditures over the next few years could affect its near-term finances. “but could provide significant returns in years to come.”

Moody’s report says Mayo’s debt will climb to $4.7 billion.

(CLICK TO ENLARGE)

Moody’s Investors Service
Moody’s Investors Service

The S&P report included this comment:

“Mayo Clinic’s long-term rating reflects its exceptionally strong corporate profile as one of the nation’s leading healthcare organizations, including numerous top rankings, and with significant investments in research, education and technology that should support its leadership in advancing clinical care and treatment.

“While COVID-19 has slowed long-distance and international visits to Mayo Clinic, we expect this broader patient demand to pick up over time, particularly as Mayo Clinic expands its reputation internationally. .”

(CLICK TO ENLARGE)

Standard & Poor’s Global Ratings
Standard & Poor’s Global Ratings

Minneapolis teachers’ strike may be over

Minneapolis teachers’ strike may be over

The 100 Best Places to Live in the Midwest

Back To Top