The rating affirmation was based on Halifax’s below average financial performance and location in a challenging market with a weak payer mix. Medicare and Medicaid made up a combined 73 percent of the hospital’s patient volume in fiscal year 2013.
The outlook revision was based on the hospital’s recent improvement in financial performance and maintenance of stable balance sheet metrics. Halifax’s operating performance improved significantly in FY 2014 as a result of many initiatives aimed at cutting expenses and improving productivity.
More articles on hospital credit ratings:
Fitch assigns ‘AA-‘ rating to WellSpan Health’s bonds
Hospital ratings: What the shift from inpatient to outpatient means for performance measurement
Moody’s revises Mercy Health’s outlook to negative
