7 Hospitals Receive Credit Downgrades in Past Month

Seven acute-care hospitals and health systems have received credit downgrades in the past 30 days, a significant increase from the month before, according to a report by HFA Partners.


The hospital and health systems receiving credit downgrades include:

•    Cheshire Medical Center (Keene, N.H.) — from A+ to A-1 (S&P)
•    Crittenton Hospital Medical Center (Rochester, Mich.) — from Baa1 to Baa2 (Moody's)
•    Emanuel Medical Center (Turlock, Calif.) — from BBB to BBB- (S&P)
•    Lowell (Mass.) General Hospital — from Baa1 to Baa2 (Moody's)
•    Mission Health (Asheville, N.C.) — from AA to AA- (S&P)
•    Oconee Regional Medical Center (Milledgeville, Ga.) — from BB to B+ (S&P)
•    The Westerly (R.I.) Hospital — from C to D (S&P)

However, in the same month-long span, 11 hospitals and health systems received credit upgrades. This month's hospitals and health systems that garnered credit upgrades include:

•    Allina Health (Minneapolis) — from A1 to Aa3 (Moody's)
•    CentraCare Health System (St. Cloud, Minn.) — from A2 to A1 (Moody's)
•    Conemaugh Health System (Johnstown, Pa.) — from BBB to BBB+ (S&P)
•    Cook Children's Health Care System (Fort Worth, Texas) — from Aa3 to Aa2 (Moody's)
•    Gwinnett Medical Center (Lawrenceville, Ga.) — from A3 to A2 (Moody's)
•    OhioHealth (Columbus) — from AA to AA+ (S&P)
•    Poudre Valley Health System (Fort Collins, Colo.) — from A to A+ (S&P)
•    Methodist Richardson (Texas) Medical Center — from Baa2 to A1 (Moody's)
•    Saints Medical Center (Lowell, Mass.) — from Caa1 to Baa2 (Moody's)
•    Saratoga Hospital (Saratoga Springs, N.Y.) — from BBB+ to A- (S&P)
•    Swedish Covenant Hospital (Chicago) — from A to A+ (Fitch)

Five hospitals and health systems also had positive rating affirmation changes, while two hospitals and health systems had negative rating affirmation changes.

Related Articles on Hospital Credit Ratings:

Credit Downgrades: How Could They Impact a Hospital's Capital Structure?

Moody's: Non-Profit Hospital Outlook Negative for Remainder of 2012

2 Hospitals Receive Credit Downgrades in Past Month

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