The outlook for the six-hospital system is negative.
“The lower rating and negative outlook reflect Methodist’s weakening financial profile, including rising operating losses and falling unrestricted reserves,” S&P said.
Offsetting the weaker financial profile is the system’s strong market share in its core area around Memphis and improving trends in key labor metrics.
Methodist Le Bonheur reported a first-half operating loss of $110.3 million on revenue of $910.5 million for 2023, an operating margin of -12.1%.
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