S&P lowers Catholic Health Initiatives’ rating to ‘A-‘

Standard & Poor’s Ratings Services has lowered its long-term and underlying ratings to “A-” from “A” on Englewood, Colo.-based Catholic Health Initiatives’ debt.

Advertisement

The outlook is negative.

“The downgrade and negative outlook for CHI reflect persistent and large operating losses, which have resulted in what we consider weak maximum annual debt service coverage,” said S&P credit analyst Martin Arrick. “Furthermore, there was a meaningful drop in unrestricted cash and investments as of Dec. 31, 2015, to levels that are only adequate for the revised rating as they are well below comparable medians.”

More articles on healthcare finance:
This week’s 5 must-reads for hospital CFOs
Audit: MassHealth paid $476k to banned physicians
S&P revises Peninsula Regional Medical Center’s outlook to stable

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.