Concurrently, Fitch assigned its “BB” rating to the health system’s series 2018A bonds.
The downgrade and assignment are a result of Loma Linda’s new issuance, which added more debt to an already leveraged balance sheet. Fitch favorably viewed the health system’s solid operating performance and reputation as an academic medical center.
The outlook is stable.
More articles on healthcare finance:
13 latest hospital credit rating downgrades
7 recent hospital, health system outlook and credit rating actions
Health insurers overtake hospital stocks: 4 things to know
