S&P Global said June 13 it had not reported any health system credit downgrades in May. Becker's has reported only two since May 12.
Credit downgrades
UC Health (Cincinnati): Moody's downgraded the health system May 10 to a "Baa3" grade. That move followed a similar downgrade because of "significantly escalating losses" in February.
Yale New Haven (Conn.) Health: The health system's bond rating slipped from "Aa3" to "A1" due to operating weakness and elevated debt, Moody's said May 5. Its outlook was also revised to stable from negative.
Here is a summary of outlook revisions for other health systems since May 12:
Redeemer Health (Meadowbrook, Pa.): The system had its outlook revised to negative amid "persistent operating losses," Fitch Ratings said June 14. The health system, anchored by a 260-bed acute care hospital, reported a $37 million operating loss in the nine months ending March 31, Fitch said.
Thomas Jefferson University (Philadelphia): The June 9 outlook downward revision, which includes both the health system and the university's academic sector, was due to sustained operating weakness, S&P Global said.
IU Health (Indianapolis): While it saw ratings affirmed at "AA," the 16-hospital system had its outlook downgraded amid persistent inflationary pressures and large capital expense, Fitch said May 31.
UofL Health (Louisville, Ky.): Slumping operating income and low days of cash on hand (42.8 as of March 31) contributed to S&P Global revising its outlook for the six-hospital system to negative May 24.