10 Hospitals Receive Credit Downgrades in Last Month

The three major credit rating agencies issued a total of 10 downgrades and nine upgrades to hospitals' ratings between May 15 and June 14, according to a report by HFA Partners.

 

 

The hospitals and health systems receiving credit downgrades were:

 

•    Doctors Community Hospital (Lanham, Md.) — from BBB- to BB+ (Fitch)
•    Good Samaritan Hospital (Lebanon, Pa.) — from Ba2 to B1 (Moody's)
•    Holy Redeemer Health System (Huntingdon Valley, Pa.) — from Baa2 to Baa3 (Moody's)
•    Jordan Hospital (Plymouth, Mass.) — from BB- to B+ (S&P)
•    Mercy Hospital (Iowa City, Iowa) — from A2 to A3 (Moody's)
•    North Oaks Health System (Hammond, La.) — from BBB+ to BBB (S&P)
•    Proctor Hospital (Peoria, Ill.) — from Ba2 to B2 (Moody's)
•    Riverview Hospital (Noblesville, Ind.) — from Baa1 to Baa2 (Moody's)
•    Temple University Health System (Philadelphia) — from BBB- to BB+ (S&P)
•    Tuomey Healthcare System (Sumter, S.C.) — from BBB- to BB (S&P)

 

The nine hospitals and health systems receiving credit upgrades included:

 

•    Cape Cod Healthcare (Hyannis, Mass.) — from BBB+ to A- (S&P), and from BBB+ to A- (Fitch)
•    Indiana University Health (Indianapolis) — from A+ to AA- (S&P)
•    IU Health Bloomington (Ind.) — from A to A+ (S&P)
•    Mercy Memorial Hospital (Monroe, Mich.) — from Baa3 to Baa2 (Moody's)
•    Palisades Medical Center (North Bergen, N.J.) — from BB+ to BBB- (S&P), and from Ba2 to Ba1 (Moody's)
•    St. Elizabeth Medical Center (Edgewood, Ky.) — from AA- to AA (S&P)
•    St. Peter Hospital (Albany, N.Y.) — from BBB+ to A- (S&P)
•    St. Peter's Hospital (Helena, Mont.) — from A3 to A2 (Moody's)
•    White County Medical Center (Monticello, Ind.) — from BBB+ to A- (S&P)

 

Additionally, the rating outlooks for 19 other hospitals were changed — 12 negatively, nine positively.

 

More Articles on Hospital Credit Ratings:

Reports: Healthcare Spending to Stay Slow and Steady, Save Trillions

HFMA Chair Steven Rose: Doing Whatever It Takes to Support Healthcare Financial Leaders

7 Forecasts on Hospital Inpatient, Outpatient Volumes

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars