Get our free mobile app

Rochester, MN(KROC AM News) - Two of the country’s top rating agencies have included some very positive comments in their summaries of two large pending Mayo Clinic-related bond sales.

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

Both have been given high ratings from Moody's and S&P.

In its report, Moody’s commented on Mayo’s favorable outlook involving its patient demand and significant contributions from donors. Moody’s also notes Mayo’s expected capital spending over the next several years may affect its finances in the short term “but could provide significant returns in later years.”

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

(CLICK TO ENLARGE)

Moody's Investors Service
Moody's Investors Service
loading...

 

The S&P report included this comment:

"The long-term rating on Mayo Clinic reflects its exceptionally strong enterprise profile as one of the country's leading health care organizations, including many top rankings, and with significant investments in research, education, and technology that should support its leadership in clinical care advancements and treatments.

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

(CLICK TO ENLARGE) 

Standard & Poor's Global Ratings
Standard & Poor's Global Ratings
loading...

The 100 Best Places to Live in the Midwest

 

 

More From 106.9 KROC-FM