Seven acute-care hospitals and health systems have received credit downgrades in the past 30 days compared with only two credit upgrades, according to a report by HFA Partners.
The hospital and health systems receiving credit downgrades include:
• Catholic Health Initiatives (Englewood, Colo.) — from Aa2 to Aa3 (Moody's); from AA to AA- (Fitch and S&P)
• Great Plains Regional Medical Center (Neb.) — from A to A- (S&P)
• Loma Linda (Calif.) University Medical Center — from BBB to BBB- (Fitch)
• Mendocino Coast Health Care District (Calif.) — from CC to C (S&P)
• Robinson Memorial Hospital (Ohio) — from A3 to Baa1 (Moody's)
• Salem (Ore.) Hospital — from A+ to A (Fitch)
• West Penn Allegheny Health System (Pittsburgh) — from B+ to CCC (Fitch); from Caa1 to Ca (Moody's)
The two credit upgrades represented the lowest monthly total so far in 2012. The previous low was five. This month's hospitals and health systems that garnered credit upgrades include:
• Scottsdale (Ariz.) Healthcare — from A3 to A2 (Moody's)
• Sky Lakes Medical Center (Klamath Falls, Ore.) — from BBB to BBB+ (S&P)
Nine hospitals and health systems also had positive rating affirmation changes, while 11 hospitals and health systems had negative rating affirmation changes.
The hospital and health systems receiving credit downgrades include:
• Catholic Health Initiatives (Englewood, Colo.) — from Aa2 to Aa3 (Moody's); from AA to AA- (Fitch and S&P)
• Great Plains Regional Medical Center (Neb.) — from A to A- (S&P)
• Loma Linda (Calif.) University Medical Center — from BBB to BBB- (Fitch)
• Mendocino Coast Health Care District (Calif.) — from CC to C (S&P)
• Robinson Memorial Hospital (Ohio) — from A3 to Baa1 (Moody's)
• Salem (Ore.) Hospital — from A+ to A (Fitch)
• West Penn Allegheny Health System (Pittsburgh) — from B+ to CCC (Fitch); from Caa1 to Ca (Moody's)
The two credit upgrades represented the lowest monthly total so far in 2012. The previous low was five. This month's hospitals and health systems that garnered credit upgrades include:
• Scottsdale (Ariz.) Healthcare — from A3 to A2 (Moody's)
• Sky Lakes Medical Center (Klamath Falls, Ore.) — from BBB to BBB+ (S&P)
Nine hospitals and health systems also had positive rating affirmation changes, while 11 hospitals and health systems had negative rating affirmation changes.
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Fitch Downgrades West Penn Bonds to "CCC"
Moody's: Mergers Drive Big Boost of Hospital Upgrades in 3Q