“The rating reflects our view of the network’s 12 hospitals and large physician network, as well as its solid business position in the Chicago metro area with a substantially new management team that is focusing on improving operations,” said S&P analyst Suzie Desai. The new team includes CFO Jim Kelly, who joined Presence this spring.
The outlook is negative, reflecting S&P’s view of Presence Health’s continued operating losses in fiscal year 2016. Presence reported a $186 million loss in 2015.
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