New Hampshire's Catholic Medical Center downgraded amid operating weakness

Manchester, N.H.-based Catholic Medical Center saw its credit rating downgraded to "Ba1 negative" from "Baa3 negative," Moody's said Aug. 25.

The system, anchored by a 330-bed acute care hospital specializing in cardiac care, has a "heavy reliance on contract labor" and suffers from inflationary and wage pressures, Moody's said.

CMC reported operating revenue of $545.8 million in 2022. Its most recent days' cash on hand figure is 98.

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

 

Featured Whitepapers

Featured Webinars