As of Oct. 2010, Fitch rated 24 California-based hospitals and health systems, with the rating distribution heavily weighted on the higher end of the scale compared with Fitch’s overall hospital portfolio. Of the 24 ratings, 16 are rated in the ‘A’ category or higher, seven in the ‘BBB’ category, and one ‘D’ (bond payment default by Valley Health System in Hemet, Calif.), according to the release.
As a class, Fitch-rated California hospitals have operating cash flow margins that outperform Fitch-rated hospitals nationwide. The median total operating revenue of the California acute care hospitals is $1.35 billion, compared with the nationwide median of $506 million.
Read the Fitch release on California hospitals.
Read more coverage on California hospitals:
– California Hospitals Change, Examine Executive Incentive Plans
– California’s Palm Drive Hospital to Sell $10 Million in Bonds
– Valley Health System in California Files Debt Adjustment Plan
