Seven acute-care hospitals and health systems have received credit downgrades in the past 30 days, a significant increase from the month before, according to a report by HFA Partners.
The hospital and health systems receiving credit downgrades include:
• Cheshire Medical Center (Keene, N.H.) — from A+ to A-1 (S&P)
• Crittenton Hospital Medical Center (Rochester, Mich.) — from Baa1 to Baa2 (Moody's)
• Emanuel Medical Center (Turlock, Calif.) — from BBB to BBB- (S&P)
• Lowell (Mass.) General Hospital — from Baa1 to Baa2 (Moody's)
• Mission Health (Asheville, N.C.) — from AA to AA- (S&P)
• Oconee Regional Medical Center (Milledgeville, Ga.) — from BB to B+ (S&P)
• The Westerly (R.I.) Hospital — from C to D (S&P)
However, in the same month-long span, 11 hospitals and health systems received credit upgrades. This month's hospitals and health systems that garnered credit upgrades include:
• Allina Health (Minneapolis) — from A1 to Aa3 (Moody's)
• CentraCare Health System (St. Cloud, Minn.) — from A2 to A1 (Moody's)
• Conemaugh Health System (Johnstown, Pa.) — from BBB to BBB+ (S&P)
• Cook Children's Health Care System (Fort Worth, Texas) — from Aa3 to Aa2 (Moody's)
• Gwinnett Medical Center (Lawrenceville, Ga.) — from A3 to A2 (Moody's)
• OhioHealth (Columbus) — from AA to AA+ (S&P)
• Poudre Valley Health System (Fort Collins, Colo.) — from A to A+ (S&P)
• Methodist Richardson (Texas) Medical Center — from Baa2 to A1 (Moody's)
• Saints Medical Center (Lowell, Mass.) — from Caa1 to Baa2 (Moody's)
• Saratoga Hospital (Saratoga Springs, N.Y.) — from BBB+ to A- (S&P)
• Swedish Covenant Hospital (Chicago) — from A to A+ (Fitch)
Five hospitals and health systems also had positive rating affirmation changes, while two hospitals and health systems had negative rating affirmation changes.
The hospital and health systems receiving credit downgrades include:
• Cheshire Medical Center (Keene, N.H.) — from A+ to A-1 (S&P)
• Crittenton Hospital Medical Center (Rochester, Mich.) — from Baa1 to Baa2 (Moody's)
• Emanuel Medical Center (Turlock, Calif.) — from BBB to BBB- (S&P)
• Lowell (Mass.) General Hospital — from Baa1 to Baa2 (Moody's)
• Mission Health (Asheville, N.C.) — from AA to AA- (S&P)
• Oconee Regional Medical Center (Milledgeville, Ga.) — from BB to B+ (S&P)
• The Westerly (R.I.) Hospital — from C to D (S&P)
However, in the same month-long span, 11 hospitals and health systems received credit upgrades. This month's hospitals and health systems that garnered credit upgrades include:
• Allina Health (Minneapolis) — from A1 to Aa3 (Moody's)
• CentraCare Health System (St. Cloud, Minn.) — from A2 to A1 (Moody's)
• Conemaugh Health System (Johnstown, Pa.) — from BBB to BBB+ (S&P)
• Cook Children's Health Care System (Fort Worth, Texas) — from Aa3 to Aa2 (Moody's)
• Gwinnett Medical Center (Lawrenceville, Ga.) — from A3 to A2 (Moody's)
• OhioHealth (Columbus) — from AA to AA+ (S&P)
• Poudre Valley Health System (Fort Collins, Colo.) — from A to A+ (S&P)
• Methodist Richardson (Texas) Medical Center — from Baa2 to A1 (Moody's)
• Saints Medical Center (Lowell, Mass.) — from Caa1 to Baa2 (Moody's)
• Saratoga Hospital (Saratoga Springs, N.Y.) — from BBB+ to A- (S&P)
• Swedish Covenant Hospital (Chicago) — from A to A+ (Fitch)
Five hospitals and health systems also had positive rating affirmation changes, while two hospitals and health systems had negative rating affirmation changes.
Related Articles on Hospital Credit Ratings:
Credit Downgrades: How Could They Impact a Hospital's Capital Structure?
Moody's: Non-Profit Hospital Outlook Negative for Remainder of 2012