The long-term ratings affirmation is based on several factors, including Providence St. Joseph’s Health’s large service area and leading market share position. The short-term ratings affirmation is based on the organization’s associated standby bond purchase agreements.
The outlook was revised to negative from stable, reflecting Moody’s Investors Service’s unfavorable opinion of the institution’s poorer-than-expected operating performance in fiscal year 2016 and continued poor performance through the first quarter of fiscal year 2017.
More articles on healthcare finance:
5 recent hospital outlook and credit rating actions
S&P downgrades rating on Dawson County Hospital District’s debt to ‘CCC’
Ready for value-based care?
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.
