The failure to provide adequate and timely information, plus the system’s negative operating performance, leads to the possibility of a multi-notch downgrade within 90 days, S&P warned. The system currently has a “BBB+” rating.
The health system has not historically been untimely in providing such information, S&P said, and the agency expects to receive a full audit for 2022 as well as to conduct a full review with management.
UNC Health Southeastern reported a $74 million loss for the period ending June 30, admitting the year had been “difficult.”
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