The past month was busy for healthcare organizations and credit rating agencies, as eight acute-care hospitals and health systems received a downgrade between April 15 and May 14, according to a report by HFA Partners.
The hospitals and health systems receiving credit downgrades included:
• Ascension Health Alliance (St. Louis) — from Aa1 to Aa2 (Moody's)
• Baptist Memorial Health Care (Memphis, Tenn.) — from AA to AA- (S&P)
• Citrus Memorial Hospital (Inverness, Fla.) — from BB- to B (Fitch)
• Davis Health System (Elkins, W.Va.) — from Ba2 to B2 (Moody's)
• Erlanger Health System (Chattanooga, Tenn.) — from Baa1 to Baa2 (Moody's)
• Rideout Health (Marysville, Calif.) — from A2 to A3 (Moody's)
• Great Plains Regional Medical Center (Elk City, Okla.) — from BBB- to BB+ (Fitch)
• Hopkins County Memorial Hospital (Sulphur Springs, Texas) — from Ba2 to Ba3 (Moody's)
Five acute-care hospitals and health systems garnered a credit upgrade in the past month:
• Berkshire Health Systems (Pittsfield, Mass.) — from BBB+ to A- (S&P)
• HealthPartners (Bloomington, Minn.) — from A3 to A2 (Moody's)
• Nanticoke Health Services (Seaford, Del.) — from BB to BB+ (S&P)
• Riverside Medical Center (Kankakee, Ill.) — from A to A+ (S&P)
• West Penn Allegheny Health System (Pittsburgh) — from Ca to Caa2 (Moody's)
Ten hospitals and health systems also had positive rating affirmation changes, while eight hospitals and health systems had negative rating affirmation changes.
The hospitals and health systems receiving credit downgrades included:
• Ascension Health Alliance (St. Louis) — from Aa1 to Aa2 (Moody's)
• Baptist Memorial Health Care (Memphis, Tenn.) — from AA to AA- (S&P)
• Citrus Memorial Hospital (Inverness, Fla.) — from BB- to B (Fitch)
• Davis Health System (Elkins, W.Va.) — from Ba2 to B2 (Moody's)
• Erlanger Health System (Chattanooga, Tenn.) — from Baa1 to Baa2 (Moody's)
• Rideout Health (Marysville, Calif.) — from A2 to A3 (Moody's)
• Great Plains Regional Medical Center (Elk City, Okla.) — from BBB- to BB+ (Fitch)
• Hopkins County Memorial Hospital (Sulphur Springs, Texas) — from Ba2 to Ba3 (Moody's)
Five acute-care hospitals and health systems garnered a credit upgrade in the past month:
• Berkshire Health Systems (Pittsfield, Mass.) — from BBB+ to A- (S&P)
• HealthPartners (Bloomington, Minn.) — from A3 to A2 (Moody's)
• Nanticoke Health Services (Seaford, Del.) — from BB to BB+ (S&P)
• Riverside Medical Center (Kankakee, Ill.) — from A to A+ (S&P)
• West Penn Allegheny Health System (Pittsburgh) — from Ca to Caa2 (Moody's)
Ten hospitals and health systems also had positive rating affirmation changes, while eight hospitals and health systems had negative rating affirmation changes.
Related Articles on Hospital Credit Ratings:
Fitch: Value-Based Payments Are Non-Profit Hospitals' Greatest Challenge
Moody's: Value-Based Care Paramount for Hospitals' Future Credit, Finances
Moody's: Small Hospitals Bear Brunt of 1Q Downgrades