8 Hospitals Receive Credit Downgrades in Past Month

Eight acute-care hospitals and health systems received credit downgrades in the past 30 days compared with only two credit upgrades, according to a report by HFA Partners.

The hospital and health systems receiving credit downgrades include:

•    Baxter County Regional Hospital (Mountain Home, Ark.) — from BBB to BBB- (S&P)
•    Blount Memorial Hospital (Maryville, Tenn.) — from A3 to Baa1 (Moody's)
•    Good Samaritan Hospital (Lebanon, Pa.) — from Ba1 to Ba2 (Moody's)
•    Henry Ford Health System (Detroit) — from A1 to A2 (Moody's)
•    Lewiston (Pa.) Hospital — from Baa3 to Ba1 (Moody's)
•    Saint Peter's University Hospital (New Brunswick, N.J.) — from BBB- to BB+ (S&P)
•    University of Michigan Health System (Ann Arbor) — from Aa2 to Aa3 (Moody's)
•    West Penn Allegheny Health System (Pittsburgh) — from B- to CC (S&P)

This is the second straight month-long period where there have been only two hospital credit upgrades. This month's hospitals and health systems that garnered credit upgrades include:

•    Beebe Medical Center (Lewes, Del.) — from B+ to BBB- (S&P)
•    Firelands Regional Medical Center (Sandusky, Ohio) — from Baa2 to Baa1 (Moody's)

Eleven hospitals and health systems also had positive rating affirmation changes, while six hospitals and health systems had negative rating affirmation changes.

Related Articles on Hospital Credit Ratings:
CFO Paul McDowell: Raising Cash Flow Margin at King's Daughters Medical Center
Moody's: 100 Statistics on Children's Hospital Medians
S&P Downgrades West Penn Bonds to "CC"

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