“The rating action reflects our view of the deterioration of North Oaks’ operations in 2016 and through the first six months of fiscal 2017, which have resulted in maximum annual debt coverage below 1.5x,” said S&P analyst James Neville.
The outlook is negative, reflecting S&P Global Ratings’ view the health system’s thin operating profile and existing high debt burden will remain at current levels.
More articles on healthcare finance:
19 recent hospital outlook and credit rating actions
S&P revises University Medical Center of El Paso’s outlook to negative
S&P revises Good Shepherd Health System’s rating to ‘A’ on 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
