This past month was one of the most active in the hospital credit rating market in the past half-year, as eight hospitals and health systems received a downgrade between Feb. 16 and March 15, according to a report by HFA Partners.
The hospitals and health systems receiving credit downgrades included:
• Adena Health System (Chillicothe, Ohio) — from A2 to A3 (Moody's)
• Citrus Memorial Hospital (Inverness, Fla.) — from Baa3 to B3 (Moody's)
• Coffee Regional Medical Center (Douglas, Ga.) — from BBB- to BB- (S&P)
• Good Samaritan Health System (Lebanon, Pa.) — from BB+ to B+ (S&P)
• Helen Keller Hospital (Sheffield, Ala.) — from Ba1 to Ba2 (Moody's)
• Marshall Medical Center (Placerville, Calif.) — from BBB- to BB+ (Fitch)
• National Jewish Health (Denver) — from BBB to BBB- (Fitch)
• Ohio Valley General Hospital (McKees Rocks, Pa.) — from Ba2 to Ba3 (Moody's)
Seven hospitals and health systems garnered a credit upgrade in the past month:
• El Camino Hospital (Mountain View, Calif.) — from A2 to A1 (Moody's)
• Hendrick Health System (Abilene, Texas) — from BBB+ to A- (S&P)
• Overlake Hospital Medical Center (Bellevue, Wash.) — from A3 to A2 (Moody's)
• ProMedica (Toledo, Ohio) — from AA- to AA (S&P)
• Rush University Medical Center (Chicago) — from A- to A (S&P)
• Terrebonne General Medical Center (Houma, La.) — from A to A+ (S&P)
• University of Wisconsin Hospital & Clinics (Madison) — from A1 to Aa3 (Moody's)
Four hospitals and health systems also had positive rating affirmation changes, while 10 hospitals and health systems had negative rating affirmation changes.
The hospitals and health systems receiving credit downgrades included:
• Adena Health System (Chillicothe, Ohio) — from A2 to A3 (Moody's)
• Citrus Memorial Hospital (Inverness, Fla.) — from Baa3 to B3 (Moody's)
• Coffee Regional Medical Center (Douglas, Ga.) — from BBB- to BB- (S&P)
• Good Samaritan Health System (Lebanon, Pa.) — from BB+ to B+ (S&P)
• Helen Keller Hospital (Sheffield, Ala.) — from Ba1 to Ba2 (Moody's)
• Marshall Medical Center (Placerville, Calif.) — from BBB- to BB+ (Fitch)
• National Jewish Health (Denver) — from BBB to BBB- (Fitch)
• Ohio Valley General Hospital (McKees Rocks, Pa.) — from Ba2 to Ba3 (Moody's)
Seven hospitals and health systems garnered a credit upgrade in the past month:
• El Camino Hospital (Mountain View, Calif.) — from A2 to A1 (Moody's)
• Hendrick Health System (Abilene, Texas) — from BBB+ to A- (S&P)
• Overlake Hospital Medical Center (Bellevue, Wash.) — from A3 to A2 (Moody's)
• ProMedica (Toledo, Ohio) — from AA- to AA (S&P)
• Rush University Medical Center (Chicago) — from A- to A (S&P)
• Terrebonne General Medical Center (Houma, La.) — from A to A+ (S&P)
• University of Wisconsin Hospital & Clinics (Madison) — from A1 to Aa3 (Moody's)
Four hospitals and health systems also had positive rating affirmation changes, while 10 hospitals and health systems had negative rating affirmation changes.
Related Articles on Hospital Credit Ratings:
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2 Hospitals Receive Credit Downgrades in Past Month