The downgrade reflects a number of challenges the system is facing such as weakened standalone operating performance in fiscal year 2013 and fiscal year 2014 as well as the hospital’s plans to create an expansive integrated healthcare delivery system throughout New York, according to Moody’s.
The system’s strengths, including its strong market position, stable and strong senior leadership team and conservative capital structure, were also considered for the rating downgrade.
Although a further downgrade is not expected in the near-term, Mount Sinai’s rating may be upgraded over the longer term if the health system “is able to benefit from its significant size and scope and achieve sustained improvement in operating performance and liquidity,” according to Moody’s.
More articles on ratings:
7 recent hospital rating and outlook changes, affirmations
Moody’s affirms Northwest Community Hospital’s ‘A2’ bond ratings
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
