7 Hospitals Receive Credit Downgrades in Past Month

Seven acute-care hospitals and health systems received a downgrade between June 15 and July 14, according to a report by HFA Partners.

The hospitals and health systems receiving credit downgrades included:

•    Gerald Champion Regional Medical Center (Alamogordo, N.M.) — from BB to B+ (S&P)
•    King's Daughters Medical Center (Ashland, Ky.) — from A+ to A (S&P)
•    Murray-Calloway County Hospital (Murray, Ky.) — from Baa2 to Baa3 (Moody's)
•    North Mississippi Health Services (Tupelo) — from AA to AA- (Fitch)
•    Robinson Memorial Hospital (Ravenna, Ohio) — from A3 to Baa3 (Moody's)
•    Temple University Health System (Philadelphia) — from BBB- to BB+ (S&P)
•    West Virginia United Health System (Fairmont) — from A+ to A (S&P)

Six acute-care hospitals and health systems garnered a credit upgrade in the past month:

•    Altoona (Pa.) Regional Health System — from BBB+ to A+ (S&P)
•    Avera Health (Sioux Falls, S.D.) — from A+ to AA- (S&P)
•    Cook Children's Health Care System (Fort Worth, Texas) — from AA- to AA (S&P)
•    Hendrick Health System (Abilene, Texas) — from A3 to A2 (Moody's)
•    Willis-Knighton Health System (Shreveport, La.) — from A3 to A2 (Moody's)
•    Connally Memorial Medical Center (Floresville, Texas) — from B- to B (S&P)

Eight hospitals and health systems also had positive rating affirmation changes, while nine hospitals and health systems had negative rating affirmation changes.

Related Articles on Hospital Credit Ratings:
Moody's: Tenet-Vanguard Merger Will Hurt Nonprofit Hospitals
6 Value-Based Credit Rating Metrics Hospital CFOs Need to Know
10 Hospitals Receive Credit Downgrades in Last Month

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