While there were some outlook revisions, no nonprofit healthcare system was downgraded in May, the first time that has happened since October 2021, S&P Global said.
There were also three upgrades during the month on two health systems and one standalone hospital, the ratings agency said. Two of those ratings were due to the strength of the newly consolidated Charlotte, N.C.-based Advocate Health following the combination of Downers Grove, Ill., and Milwaukee-based Advocate Aurora Health and Charlotte-based Atrium Health, according to S&P Global.
Three health systems in the "A" category had their outlooks revised downward, as did one standalone hospital in the "AA" category. There was also one favorable outlook revision, to positive from stable on a standalone hospital in Georgia.
As well as Advocate Health, some of the bigger health systems in the roundup included Altamonte Springs, Fla.-based AdventHealth, Edison, N.J.-based Hackensack Meridian Health, Indianapolis-based IU Health and Somerville, Mass.-based Mass General Brigham.