The move followed Ascension reporting a $3 billion operating loss Sept. 14, an amount described by Fitch as “noteworthy.” Operating margins will be pressured for the near term even as improvements are expected in the long term, Fitch said, with a 3 percent figure expected in the next several years.
The 140-hospital system’s net debt levels remain favorable, especially compared with peers, Fitch said.
“It is Fitch’s expectation that Ascension’s net debt position will improve materially over the near to intermediate term, as what Fitch would characterize as concentrated operational losses are addressed,” according to the ratings agency’s note.
Becker’s reached out to Ascension for comment and will update this story accordingly.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
