“The outlook revision to stable reflects our view of CNE’s systemwide recovery plans, currently underway and its improved quarter-by-quarter financial performance in fiscal 2016,” said S&P analyst Jennifer Soule. “We think that the system’s financial turnaround efforts, while aggressive, are essential for its future financial stability and expect CNE to meet its financial projections over the coming years.”
S&P also affirmed the “BB” rating on Care New England Health System’s existing debt issued by the Rhode Island Health & Educational Building Corp.
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