Two acute-care hospitals and health systems have received credit downgrades in the past 30 days, mirroring the same amount of downgrades from the month before, according to a report by HFA Partners.
The hospital and health systems receiving the credit downgrades include:
• Davis Health System (Elkins, W.Va.) — from Ba1 to Ba2 (Moody's)
• Elmhurst (Ill.) Memorial Healthcare — from A- to BBB+ (Fitch)
However, in the same month-long span, 11 hospitals and health systems received credit upgrades, more than any other month this year. From February 16 to March 15, the next-highest month-long span, there were eight hospital upgrades. This month's hospitals and health systems that garnered credit upgrades include:
• Adventist Health System (Altamonte Springs, Fla.) — from AA- to AA (Fitch)
• Alexian Brothers Health System (Arlington Heights, Ill.) — from A3 to A2 (Moody's)
• Fletcher Allen Health Care (Burlington, Vt.) — from BBB to BBB+ (S&P)
• HealthEast Care System (St. Paul, Minn.) — from BB+ to BBB- (S&P)
• Lake Health (Concord Township, Ohio) — from Baa1 to A3 (Moody's)
• Memorial Hermann Northeast Hospital (Humble, Texas) — from A3 to A2 (Moody's)
• Methodist Health System (Dallas) — from A+ to AA- (S&P)
• Methodist Richardson Medical Center (Texas) — from A to A+ (S&P)
• Mount Sinai Medical Center (Miami Beach, Fla.) — from BBB- to BBB (Fitch)
• NYU Langone Medical Center — from BBB+ to A- (S&P)
• St. John's Riverside Hospital (Yonkers, N.Y.) — from B to B+ (S&P)
Two hospitals and health systems also had positive rating affirmation changes, while three hospitals and health systems had negative rating affirmation changes.
The hospital and health systems receiving the credit downgrades include:
• Davis Health System (Elkins, W.Va.) — from Ba1 to Ba2 (Moody's)
• Elmhurst (Ill.) Memorial Healthcare — from A- to BBB+ (Fitch)
However, in the same month-long span, 11 hospitals and health systems received credit upgrades, more than any other month this year. From February 16 to March 15, the next-highest month-long span, there were eight hospital upgrades. This month's hospitals and health systems that garnered credit upgrades include:
• Adventist Health System (Altamonte Springs, Fla.) — from AA- to AA (Fitch)
• Alexian Brothers Health System (Arlington Heights, Ill.) — from A3 to A2 (Moody's)
• Fletcher Allen Health Care (Burlington, Vt.) — from BBB to BBB+ (S&P)
• HealthEast Care System (St. Paul, Minn.) — from BB+ to BBB- (S&P)
• Lake Health (Concord Township, Ohio) — from Baa1 to A3 (Moody's)
• Memorial Hermann Northeast Hospital (Humble, Texas) — from A3 to A2 (Moody's)
• Methodist Health System (Dallas) — from A+ to AA- (S&P)
• Methodist Richardson Medical Center (Texas) — from A to A+ (S&P)
• Mount Sinai Medical Center (Miami Beach, Fla.) — from BBB- to BBB (Fitch)
• NYU Langone Medical Center — from BBB+ to A- (S&P)
• St. John's Riverside Hospital (Yonkers, N.Y.) — from B to B+ (S&P)
Two hospitals and health systems also had positive rating affirmation changes, while three hospitals and health systems had negative rating affirmation changes.
Related Articles on Hospital Credit Ratings:
Why Cash is King: Q&A With Dawn Javersack, CFO of Boca Raton Regional Hospital
Moody's: Hospital Downgrades Surpass Upgrades in 2Q of 2012
2 Hospitals Receive Credit Downgrades in Past Month