Moody’s has also affirmed the Shands’ “Baa3” rating, affecting approximately $120 million of debt.
The rating assignment and affirmation are based on several factors, including Shands’ strong relationship with the Gainesville-based University of Florida College of Medicine, Gainesville-based Shands Teaching Hospital and Clinics and the city of Jacksonville.
The outlook is revised to negative, reflecting Shands’ financial pressures, including the increase in leverage and the opening of its new patient tower.
More hospital outlook and credit rating actions:
Moody’s affirms Children’s Hospital of Philadelphia’s ‘Aa2’ and ‘Aa2/VMIG 1’ ratings
Moody’s affirms Norman Regional Hospital’s ‘Baa2’ rating
Moody’s affirms Wake Forest Baptist’s ‘A2’ rating
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.