“The downgrade reflects the hospital’s weak interim 2016 financial performance and challenging service area demographics,” said S&P analyst Patrick Zagar. S&P measured GPRMC posted a $6 million operating loss through the first 11 months of fiscal year 2016.
The outlook is negative, reflecting S&P’s assessment of GPRMC’s regional market challenges and history of operating losses.
More articles on healthcare finance:
Fitch downgrades Dartmouth-Hitchcock Obligated Group’s ratings to ‘A’
Moody’s affirms Major Hospital’s ‘Baa2’ rating
GAO: Medicare overpaid providers $69M for Part B drugs in 2013
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