The downgrade is a result of S&P’s revised nonprofit hospital rating criteria, which place more emphasis on both enterprise and financial attributes that affect ratings.
The rating incorporates several credit strengths and weaknesses, including EvergreenHealth’s stable market position, consistent but limited operating performance and modest unrestricted reserves. In addition, the credit agency positively viewed the health system’s sizable and growing medical staff and its effort to partner with other providers in the region.
The outlook is stable at the lower rating.
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