Financial Management

Fitch upgrades Summit Health’s rating to ‘AA-‘

Fitch Ratings upgraded Chambersburg, Pa.-based Summit Health’s $113 million series 2010 revenue bonds to “AA-” from “A+” and assigned the health system an issuer default rating of “AA-.”

Alia Paavola

Thursday, April 5th, 2018

The upgrade and assignment are a result of several factors, including Summit Health’s leading market position, strong operating profitability and favorable leverage position. Fitch also acknowledged the health system’s upcoming EMR overhaul, which is expected to increase capital spending and financial risk.

The outlook is stable.

More articles on healthcare finance:
UCLA Health to establish health sciences learning center with $20M gift
7 latest hospital credit downgrades
10 hospitals seeking RCM talent

Next Up in Financial Management

California system to lay off nearly 300

Oakland, Calif.-based Alameda Health System will lay off 296 employees as it deals with funding cuts related to H.R. 1.…

By: Madeline Ashley
2 days ago
Closed Virginia hospital to reopen

Stuart (Va.) Community Hospital will fully reopen Jan. 5, according to a Dec. 25 X post from Virginia state Delegate…

By: Madeline Ashley
2 days ago
756 hospitals at risk of closure, state by state

Seven hundred fifty-six rural U.S. hospitals are at risk of closure due to financial problems, with more than 40% of…

By: Molly Gamble
2 days ago

Comments are closed.

How physician leaders are reshaping surgical ops: Lessons from WakeMed, Lee Health + more

Next Up in Financial Management

California system to lay off nearly 300

Closed Virginia hospital to reopen

756 hospitals at risk of closure, state by state

Join the 500,000+ healthcare executives who start their day with Becker’s