Recently, Groenhuysen, assisted by Ilfa, achieved the excellent rating (credit assessment) of AA-. This rating was issued by Fitch Ratings, one of the three largest rating agencies in the world together with S&P and Moody's. This rating brings many opportunities for Groenhuysen, as it proves that Groenhuysen is a very financially healthy organisation.
There are major social challenges in healthcare, so it is important to be optimally financed and to know where you stand as an organisation. With the 'AA-' rating, Groenhuysen knows it can continue to invest in its social task of providing high-quality care and support to the elderly in the region, both for the short and long term. "We are pleased and proud of the achieved 'AA-'credit rating. This confirms that Groenhuysen is properly committed to providing quality care, the well-being of the elderly and ensuring financial stability," says Ron Axt, chairman of the board at Groenhuysen.
Extra special about the rating is that Groenhuysen managed to achieve a stand-alone rating of no less than A+ on her own. The fact that the rating got even better is due to the involvement of the Dutch state in financing elderly care. This allows Groenhuysen to achieve one step ('notch') higher than purely on its own merits.
Renewed process
Groenhuysen's rating took place while Fitch was in the process of slightly revising their methodology. Groenhuysen is the first Dutch institution to be put along the new yardstick, other institutions that already have a Fitch rating will face this in the future. Partly due to the new methodology, Fitch paid due attention to the very specific functioning of the Dutch healthcare system with regard to possible government intervention, encapsulated by Fitch in the two terms 'responsibility to support' and 'incentive to support'.
Under the new methodology, Groenhuysen will only lose the 'AA-'rating, linked to the Dutch state, if it is downgraded by more than four notches (i.e. from A+ to successively A, A-, BBB+ and then BBB). Precisely that AA- is normative for financiers.
In short: Groenhuysen has not only achieved a particularly good rating, but it is also very robust!
Want to know more about Groenhuysen’s rating? You can read the commentary of Fitch Rating on the rating here.