“The downgrade reflects a lighter financial profile that is now more commensurate with an ‘A+’ rating,” said S&P analyst Margaret McNamara. “While we believe the management team has done a good job implementing a performance improvement plan and expect management will continue to make steady gains in operating performance, we do not believe some key metrics will be commensurate with the prior rating.”
The outlook is stable, reflecting S&P’s expectation the health system’s balance sheet provides the organization with some flexibility while management implements its strategic vision.
More articles on healthcare finance:
Fitch affirms ‘BBB+’ rating on Silver Cross Health System’s bonds
Fitch affirms ‘BB+’ rating on Marshall Medical Center’s bonds
Moody’s affirms ‘A1’ rating on Children’s National Medical Center’s bonds
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
