Dubai – Mubasher: Moody's Investors Service has assigned a Ba1 corporate family rating (CFR) and Ba1-PD probability of default rating with a stable outlook to NMC Health, a giant UAE-based healthcare provider.
Giving its first rating to NMC Health, Moody’s stated that this rating reflects the Emirati company’s strong business status and favourable regulatory environment.
“To date, NMC has not faced any closure or censure of its facilities. The company continues to strive to meet self-imposed standards that are higher when compared to what is expected of it by various regulators,” the international credit agency said in a statement on Monday.
NMC is keen to attract professional and skilled doctors to its facilities to offer a good quality service to its clients, Moody’s added.
“The ratings consider the company's small scale of operations as a private healthcare provider with revenues for the financial year ended 31 December 2017 of $1.6 billion,” the US-based rating corporation said.
NMC's approach "supports its resilient business model, loyal customer base, strong brand recognition and market-leading position," the report added.
NMC owns 75 facilities and manages 65 others and served around 6 million patients in 2017.
