“The outlook revision reflects our view of St. Luke’s softening profitability in fiscal year 2016 and continued margin compression year-to-date for fiscal [year] 2017, which underperformed budget expectations,” said S&P analyst Wendy Towber. “The negative outlook further reflects our view of St. Luke’s departure from a multiyear trend of stable to strengthening financial metrics, which was partly due to weaker net patient revenue growth and softer volumes.”
S&P also affirmed the “A+” long term rating on the hospital’s series 2006, 2011 and 2015B bonds.
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