10 Hospitals and Health Systems Receive Credit Downgrades in Past Month

Ten acute-care hospitals and health systems have received credit downgrades in the past 30 days, according to a report by HFA Partners.

The hospital and health systems receiving the credit downgrades include:

•    Einstein Healthcare (Philadelphia) — from A- to BBB+ (Fitch)
•    Westerly (R.I.) Hospital — from Caa1 to Ca (Moody's) and from CCC to C (S&P)
•    Trinity Health (Minot, N.D.) — from BBB+ to BBB- (S&P)
•    St. Joseph Health Services of Rhode Island (North Providence) — from Caa1 to Caa2 (Moody's)
•    Keokuk (Iowa) Area Hospital — from Caa2 to Caa3 (Moody's)
•    AnMed Health (Anderson, S.C.) — from AA- to A+ (Fitch)
•    Vidant Health (Greenville, N.C.) — from AA- to A+ (Fitch)
•    Kalispell (Mont.) Regional Medical Center — from A to A- (S&P)
•    Akron (Ohio) General Health System — from BBB+ to BBB (S&P)
•    Exeter (N.H.) Hospital — from A2 to A3 (Moody's)

In the same month-long span, seven hospitals and health systems received credit upgrades. They include:

•    NYU Langone Medical Center (New York) — from Baa1 to A3 (Moody's) and from BBB to BBB+ (S&P)
•    Cape Cod Healthcare (Hyannis, Mass.) — from BBB to BBB+ (Fitch)
•    Sky Lakes Medical Center (Klamath Falls, Ore.) — from BBB- to BBB (S&P)
•    New York Methodist Hospital (Brooklyn, N.Y.) — from Baa3 to Baa2 (Moody's)
•    Virginia Hospital Center (Arlington, Va.) — from A2 to A1 (Moody's)
•    IU Health Ball Memorial Hospital (Muncie, Ind.) — from Baa3 to Baa2 (Moody's)
•    Methodist Hospitals (Gary, Ind.) — from BB+ to BBB- (Fitch)

Four hospitals also had positive rating affirmation changes, while three hospitals had negative rating affirmation changes.

Related Articles on Hospital Credit Ratings:

Lower-Rated Hospitals Face Bond Challenges in 2012

Moody's: Non-Profit Hospital Downgrades Outpace Upgrades for 6th Straight Year

Moody's: 4 Reasons 2012 Will Be Financially Challenging for Non-Profit Hospitals

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