S&P gives Palomar Health a ‘BBB’ rating

S&P Global Ratings upgraded its long-term rating on Escondido, Calif.-based Palomar Health’s revenue bonds to “BBB” from “BBB-.” At the same time, S&P Global ratings downgraded its long-term and underlying rating on Palomar Health’s outstanding general obligation bonds to “BBB” from “A.”

Advertisement

The rating changes are a result of S&P’s revised rating criteria, which were published March 19. The “BBB” rating reflects Palomar Health’s strong inpatient market share, large primary service area as well as its high debt load and weaker financial profile.

The outlook is stable, reflecting the progress the health system is seeing in restoring operational performance to historical levels.

More articles on healthcare finance:
12 hospitals with strong finances
California health system’s bankruptcy challenged by employee union
Oklahoma hospital on brink of closure gets taxpayer infusion to make payroll

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.