Fitch downgrades WakeMed's rating but revises outlook to stable

Fitch Ratings has downgraded the rating on Raleigh, N.C.-based WakeMed Health System's following bonds to "A+" from "AA-":

  • $283.3 million of series 2012A bonds
  • $75 million of series 2009B bonds
  • $66.8 million of series 2009C bonds

The rating downgrade is based on a number of factors, including WakeMed's negative operating margin in fiscal year 2015 and its location in a competitive service area.

The outlook has been revised to stable from negative.

More articles on healthcare finance:
5 latest hospital bankruptcies, closures
NYC budget includes $700M boost for public hospitals
Bipartisan health spending bill passes appropriations committee 

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars