2 Hospitals Receive Credit Downgrades in Past Month

Two acute-care hospitals and health systems have received credit downgrades in the past 30 days, mirroring the same amount of downgrades from the month before, according to a report by HFA Partners.

The hospital and health systems receiving the credit downgrades include:

•    Davis Health System (Elkins, W.Va.) — from Ba1 to Ba2 (Moody's)
•    Elmhurst (Ill.) Memorial Healthcare — from A- to BBB+ (Fitch)

However, in the same month-long span, 11 hospitals and health systems received credit upgrades, more than any other month this year. From February 16 to March 15, the next-highest month-long span, there were eight hospital upgrades. This month's hospitals and health systems that garnered credit upgrades include:

•    Adventist Health System (Altamonte Springs, Fla.) — from AA- to AA (Fitch)
•    Alexian Brothers Health System (Arlington Heights, Ill.) — from A3 to A2 (Moody's)
•    Fletcher Allen Health Care (Burlington, Vt.) — from BBB to BBB+ (S&P)
•    HealthEast Care System (St. Paul, Minn.) — from BB+ to BBB- (S&P)
•    Lake Health (Concord Township, Ohio) — from Baa1 to A3 (Moody's)
•    Memorial Hermann Northeast Hospital (Humble, Texas) — from A3 to A2 (Moody's)
•    Methodist Health System (Dallas) — from A+ to AA- (S&P)
•    Methodist Richardson Medical Center (Texas) — from A to A+ (S&P)
•    Mount Sinai Medical Center (Miami Beach, Fla.) — from BBB- to BBB (Fitch)
•    NYU Langone Medical Center — from BBB+ to A- (S&P)
•    St. John's Riverside Hospital (Yonkers, N.Y.) — from B to B+ (S&P)

Two hospitals and health systems also had positive rating affirmation changes, while three hospitals and health systems had negative rating affirmation changes.

Related Articles on Hospital Credit Ratings:

Why Cash is King: Q&A With Dawn Javersack, CFO of Boca Raton Regional Hospital

Moody's: Hospital Downgrades Surpass Upgrades in 2Q of 2012

2 Hospitals Receive Credit Downgrades in Past Month

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