22 nonprofit hospitals hit with credit downgrades last year, Fitch says

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Credit downgrades outpaced upgrades for U.S. public finance in 2020, and nonprofit hospitals were among the most affected sectors, according to a new report from Fitch Ratings. 

In 2020, Fitch downgraded 22 nonprofit hospitals and upgraded five. 

Fitch said coronavirus-related financial pressure accounted for 13 of the downgrades as well as two rating outlook revisions to negative and 17 negative credit watches.

Other top hit sectors include local governments, higher education and nonprofit companies. 

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