While S&P made no downgrades in May, this was otherwise the lowest amount of such downgrades so far in 2023. Three months in 2023 have seen no upgrades at all.
The ratings agency maintained 22 other ratings but did revise seven outlooks, all from stable to negative. The seven negative revisions were the highest of the year.
The downgrade affected Meadowbrook, Pa.-based Holy Redeemer Health System while the upgrade was for San Antonio Regional Hospital. Of the seven outlook changes, two were health systems — Fort Wayne, Ind.-based Parkview Health and Fountain View, Calif.-based Memorial Health Services — and five were standalone hospitals.
More details can be found here.
