The following hospital and health system credit rating and outlook changes and affirmations occurred in the last week, beginning with the most recent.
1. Moody's downgrades South Georgia Medical Center to 'Baa3', maintains negative outlook
Moody's Investors Service downgraded the Hospital Authority of Valdosta (Ga.) and Lowndes County's revenue certificates to "Baa3" from "A3," affecting $48 million of debt. The hospital authority does business as South Georgia Medical Center.
2. Moody's assigns 'A3' rating to St. Luke's University Health Network's bonds
Moody's Investors Service assigned its "A3" rating to Bethlehem, Pa.-based St. Luke's University Health Network's proposed $100 million series 2018C revenue bonds. The credit rating agency also affirmed its "A3" rating on the health system's outstanding debt.
3. Moody's assigns 'Baa1' rating to AU Health System, maintains negative outlook
Moody's Investors Service assigned its "Baa1" rating to Augusta (Ga.) University Health System's proposed $76.8 million series 2018 revenue bonds. At the same time, Moody's affirmed the health system's "Baa1" issuer rating.
4. Fitch downgrades Essentia Health's bonds to 'A-'
Fitch Ratings downgraded Duluth, Minn.-based Essentia Health's outstanding bonds to "A-" from "A," affecting $240 million of debt.
5. Fitch upgrades Holland Community Hospital to 'AA-'
Fitch Ratings upgraded its rating on Holland (Mich.) Community Hospital to "AA-" from "A+," affecting $77.3 million of debt.
6. Fitch downgrades Southeastern Medical Center to 'A-', assigns negative outlook
Fitch Ratings downgraded Lumberton, N.C.-based Southeastern Medical Center's bonds to "A-" from "A," affecting $30 million of debt. Concurrently, the credit agency assigned the medical center its "A-" issuer default rating.
7. S&P assigns its 'A+' rating to Fairview Health Services
S&P Global Ratings assigned its "A+" long-term rating to Minneapolis-based Fairview Health Services' $252.3 million series 2018A. Concurrently, S&P affirmed its "A+" rating on the health system's existing debt.
8. S&P gives Palomar Health a 'BBB' rating
S&P Global Ratings upgraded its long-term rating on Escondido, Calif.-based Palomar Health's revenue bonds to "BBB" from "BBB-." At the same time, S&P Global ratings downgraded its long-term and underlying rating on Palomar Health's outstanding general obligation bonds to "BBB" from "A."