1.Meadowbrook, Pa.-based Redeemer Health saw its credit rating downgraded to “BB” by S&P Global, according to an Aug. 18 Philadelphia Inquirer report. The system continues to look for a “strategic partner” to help it recover from rapidly “declining operating margins,” the report said.
2. Moody’s Investors Service has downgraded New York City-based Mount Sinai Hospital’s rating to “Baa1” from “A3” as the agency expects the system’s operating performance and liquidity to be below historical averages for several years.
3. Roseville, Calif.-based Adventist Health had its credit rating downgraded by S&P Global from “A1” to “A2,” according to an Aug. 21 filing.
The 27-hospital system, which operates in its home state as well as Oregon and Hawaii, said in February it planned to go from seven networks of care to five to reduce costs.
4. Greenville, N.C.-based Vidant Health, now known as ECU Health, was downgraded to “A” because of recent operating losses, S&P said Aug. 15.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
