Five acute-care hospitals and health systems received a credit downgrade between July 15 and Aug. 14, according to a report by HFA Partners.
The hospitals and health systems receiving credit downgrades included:
• Catholic Health Services of Long Island (Rockville Centre, N.Y.) — from A- to BBB+ (S&P)
• MaineHealth (Portland) — from AA- to A+ (S&P)
• Proctor Hospital (Peoria, Ill.) — from BB+ to BB- (S&P)
• San Antonio Community Hospital (Upland, Calif.) — from A3 to Baa1 (Moody's)
• Temple University Health System (Philadelphia) — from Ba1 to Ba2 (Moody's)
However, upgrades outpaced downgrades in the past month — the first time this has occurred since January. Six acute-care hospitals and health systems garnered a credit upgrade in the past month:
• Atlantic Health System (Morristown, N.J.) — from A to A+ (S&P)
• Halifax Regional Health System (South Boston, Va.) — from A- to A (S&P)
• Indiana University Health (Indianapolis) — from A1 to Aa3 (Moody's)
• Princeton (W.Va.) Community Hospital — from BBB to BBB+ (S&P)
• Sibley Memorial Hospital (Washington, D.C.) — from A to AA- (S&P)
• St. John Health System (Tulsa, Okla.) — from A to A+ (S&P)
Six hospitals and health systems also had positive rating affirmation changes, while six hospitals and health systems had negative rating affirmation changes.
Related Articles on Hospital Credit Ratings:
S&P: 34 Statistics on Nonprofit Health System Medians
S&P Upgrades Atlantic Health System's Credit to "A+"
Fitch: HMA is in Troubled Waters