The hospital and health systems receiving credit downgrades include:
• Cheshire Medical Center (Keene, N.H.) — from A+ to A-1 (S&P)
• Crittenton Hospital Medical Center (Rochester, Mich.) — from Baa1 to Baa2 (Moody’s)
• Emanuel Medical Center (Turlock, Calif.) — from BBB to BBB- (S&P)
• Lowell (Mass.) General Hospital — from Baa1 to Baa2 (Moody’s)
• Mission Health (Asheville, N.C.) — from AA to AA- (S&P)
• Oconee Regional Medical Center (Milledgeville, Ga.) — from BB to B+ (S&P)
• The Westerly (R.I.) Hospital — from C to D (S&P)
However, in the same month-long span, 11 hospitals and health systems received credit upgrades. This month’s hospitals and health systems that garnered credit upgrades include:
• Allina Health (Minneapolis) — from A1 to Aa3 (Moody’s)
• CentraCare Health System (St. Cloud, Minn.) — from A2 to A1 (Moody’s)
• Conemaugh Health System (Johnstown, Pa.) — from BBB to BBB+ (S&P)
• Cook Children’s Health Care System (Fort Worth, Texas) — from Aa3 to Aa2 (Moody’s)
• Gwinnett Medical Center (Lawrenceville, Ga.) — from A3 to A2 (Moody’s)
• OhioHealth (Columbus) — from AA to AA+ (S&P)
• Poudre Valley Health System (Fort Collins, Colo.) — from A to A+ (S&P)
• Methodist Richardson (Texas) Medical Center — from Baa2 to A1 (Moody’s)
• Saints Medical Center (Lowell, Mass.) — from Caa1 to Baa2 (Moody’s)
• Saratoga Hospital (Saratoga Springs, N.Y.) — from BBB+ to A- (S&P)
• Swedish Covenant Hospital (Chicago) — from A to A+ (Fitch)
Five hospitals and health systems also had positive rating affirmation changes, while two hospitals and health systems had negative rating affirmation changes.
Related Articles on Hospital Credit Ratings:
Credit Downgrades: How Could They Impact a Hospital’s Capital Structure?
Moody’s: Non-Profit Hospital Outlook Negative for Remainder of 2012
