The downgrade, which was issued by S&P Global Ratings, follows a 2021 downgrade from Fitch Ratings, from “A+” to “A.” That downgrade reflected “a series of one-time events and the lingering deleterious impact from the novel coronavirus” which “resulted in lower than anticipated operating EBITDA margins,” Fitch said.
Adventist Health, which operates 23 hospitals and 400 clinics, said in July it would lay off 52 workers in management positions.
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