The following hospital and health system credit rating actions occurred in the last three weeks. They are categorized by downgrade, upgrade, affirmation or other.
Upgrade:
- HonorHealth (Scottsdale, Ariz.) — issuer default rating upgraded to "A+" from "A" (Fitch)
- Palos Community Hospital (Palos Heights, Ill.) — revenue bond rating increased to "AA+" from "AA-" after the series 2010 C debt was acquired by Chicago-based Northwestern Medicine (Fitch)
Affirmation:
- Atlantic Health System's (Morristown, N.J.) — issuer rating affirmed at "Aa3" (Moody's)
- Baptist Health Care Corp. (Pensacola, Fla.) — "BBB" issuer default rating affirmed. (Fitch)
- Beth Israel Lahey Health (Boston) — "A3" rating affirmed on $1 billion of outstanding debt (Moody's)
- Children's Hospital of the King's Daughters (Norfolk, Va.) — issuer rating affirmed at "A2" (Moody's)
- Christus Health (Irving, Texas) — "A+" issuer default rating affirmed (Fitch)
- Franciscan Health (Mishawaka, Ind.) — "Aa3" rating affirmed on about $750 million of rated debt (Moody's)
- Hawaii Pacific Health (Honolulu) — "AA-" issuer default rating affirmed (Fitch)
- Hurley Medical Center (Flint, Mich.) — "BBB-" issuer default rating affirmed (Fitch)
- Kettering Health Network (Dayton, Ohio) — issuer rating affirmed at "A2" (Moody's)
- Novant Health (Winston Salem, N.C.) — long-term rating affirmed at "Aa3" (Moody's)
- NYU Langone Hospitals (New York City) — "A3" rating affirmed, affecting $2.8 billion of debt (Fitch)
- Palomar Health (Escondido, Calif.) — revenue bond rating affirmed at "Ba1" (Moody's)
- Seattle Children's — "Aa2" rating affirmed on the health system's parity debt (Moody's)
- University of Colorado Health (Aurora) — "AA" issuer default rating affirmed (Fitch)
- Valley Children's Healthcare (Madera, Calif.) — "A1" rating affirmed on outstanding debt (Moody's)
Other rating actions:
- Northwestern Medicine (Chicago) — assigned "AA+" issuer default rating after Palos Community Hospital joined the health system (Fitch)
- Summa Health System (Akron, Ohio) — "A-" issuer default rating placed on rating watch negative after announcing it has redeemed HealthSpan Partner's membership interest (Fitch)