While management efforts to reverse the trend are likely to lead to eventual recovery, several years of weak operating results saw the University of Vermont Medical Center downgraded to "A," Fitch Ratings said June 30.
Persistent elevated labor costs have continued to dog the Burlington-based six-hospital system, with premium pay coming in at $65 million over budget as of March 31, Fitch said.
The outlook is stable for the system, which serves a population of 1.4 million in Vermont and New York.