This week S&P Global Ratings placed its “A” rating on D-H bonds on CreditWatch with negative implications. Fitch also placed the bonds on negative ratings watch and downgraded $132.5 million in D-H bonds from “A+” to “A.” Fitch and D-H’s senior management plan to have an on-site meeting to discuss the results and a corrective plan. In addition, D-H spokesperson Mike Barwell said discussion with Elliot officials continue.
Under a possible Elliot-D-H affiliation, Elliot would receive funds from D-H for a new or renovated hospital. Elliot spokesman Susanna Fier told the Union Leader Tuesday the system “is taking all of the steps necessary to understand the impact this may have on a future affiliation.”
In an email to the Union Leader, Ms. Fier said D-H notified Elliot of its financial performance, noting “a rating change was not unexpected.”
“We know D-H is a strong organization that can get through this, and we understand that there are performance improvement plans underway to ensure that fiscal year 2017 is a better year,” she said.
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