The downgrade is due to a weaker than expected financial performance in fiscal 2024 and a slow anticipated recovery over the coming years, Fitch said in a Feb. 3 report.
UofL Health has implemented operational improvements and opened new facilities to meet capacity needs, but persistent expense pressure, payer denials and delayed reimbursements continue to challenge the system’s operations and financial stability, Fitch said.
The ratings agency said it believes UofL Health’s market position is positive, with a reputation for high-acuity services and alignment with the University of Louisville.
The system has a stable outlook with Fitch, which added that it expects that UofLHealth will improve its operating margins and strengthen its balance sheet as new capacity comes online and its reach extends within an expanded service area.
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