The hospitals and health systems receiving credit downgrades included:
• Centegra Health System (Crystal Lake, Ill.) — from A- to BBB+ (S&P)
• Citrus Memorial Hospital (Inverness, Fla.) — from B3 to Caa3 (Moody’s)
• Dickinson County Healthcare System (Iron Mountain, Mich.) — from Ba1 to Ba2 (Moody’s)
• National Jewish Health (Denver) — from BBB- to BB+ (Fitch)
• North Mississippi Health Services (Tupelo, Miss.) — from AA to AA- (S&P)
• PeaceHealth (Vancouver, Wash.) — from AA- to A+ (Fitch)
• Phoebe Putney Health System (Albany, Ga.) — from Aa3 to A1 (Moody’s)
• St. Joseph’s Hospital Health Center (Syracuse, N.Y.) — from BB+ to BB (S&P) and from Ba1 to Ba2 (Moody’s)
In January, HCA West Florida, a subsidiary of Nashville, Tenn.-based Hospital Corporation of America, signed a letter of intent to lease the financially troubled Citrus Memorial Hospital. HCA would pay $140 million and invest at least $45 million in capital improvements over the next five years. HCA beat out Tampa (Fla.) General Hospital in the Citrus Memorial bidding process, but a definitive agreement has not been reached.
Six acute-care hospitals and health systems garnered a credit upgrade in the past month:
• Ann & Robert H. Lurie Children’s Hospital of Chicago — from A- to A (S&P)
• Cherokee Nation Healthcare (Tahlequah, Okla.) — from BBB- to BBB (Fitch)
• Chickasaw Health System (Ada, Okla.) — from BBB- to BBB (Fitch)
• Norman (Okla.) Regional Health System — from BB+ to BBB- (S&P)
• Rush University Medical Center (Chicago) — from A to A+ (Fitch)
• Virginia Hospital Center (Arlington, Va.) — from A+ to AA- (Fitch)
Three hospitals and health systems also had positive outlook changes, while nine hospitals and health systems had negative outlook changes.
Related Articles on Hospital Credit Ratings:
3 Hospitals Receive Credit Downgrades in Past Month
EHRs and Health IT Projects: Are They Battering Hospitals’ Financial Profiles?
S&P: Nonprofit Hospitals to Experience Big Negative Pressures Next Year
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.
