The downgrade is a result of Greenville Health’s merger with Columbia, S.C.-based Palmetto Health, finalized Nov. 21, 2017. The merger created a combined organization under the same parent company, SC Health Co.
“In our opinion, the merger has created significant opportunities for cost synergies based on SCHC’s combined size and scale, and creates an opportunity for the new health system to respond to the issues and changes in the health care sector,” said S&P credit analyst Margaret Carr.
The outlook is stable, reflecting the merged organization’s strong market position as well as its expectation of improved earnings post-affiliation.
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