The news comes after the group posted an overall loss of $1.4 billion for fiscal year 2022 compared with net income of $3.9 billion last year.
Trinity Health, which operates 88 hospitals and 135 other locations in 26 states, has faced a number of headwinds common in the sector such as high labor costs and inflationary pressures, Fitch acknowledged. But the group’s large size and market presence in key states disperses its risk, the ratings group said.
The long-term ratings also incorporate an expectation that Trinity Health will return to sustained stronger operating EBITDA margins, Fitch added.
