The hospitals and health systems receiving credit downgrades included:
• Centegra Health System (Crystal Lake, Ill.) — from A- to BBB+ (S&P)
• Citrus Memorial Hospital (Inverness, Fla.) — from B3 to Caa3 (Moody’s)
• Dickinson County Healthcare System (Iron Mountain, Mich.) — from Ba1 to Ba2 (Moody’s)
• National Jewish Health (Denver) — from BBB- to BB+ (Fitch)
• North Mississippi Health Services (Tupelo, Miss.) — from AA to AA- (S&P)
• PeaceHealth (Vancouver, Wash.) — from AA- to A+ (Fitch)
• Phoebe Putney Health System (Albany, Ga.) — from Aa3 to A1 (Moody’s)
• St. Joseph’s Hospital Health Center (Syracuse, N.Y.) — from BB+ to BB (S&P) and from Ba1 to Ba2 (Moody’s)
In January, HCA West Florida, a subsidiary of Nashville, Tenn.-based Hospital Corporation of America, signed a letter of intent to lease the financially troubled Citrus Memorial Hospital. HCA would pay $140 million and invest at least $45 million in capital improvements over the next five years. HCA beat out Tampa (Fla.) General Hospital in the Citrus Memorial bidding process, but a definitive agreement has not been reached.
Six acute-care hospitals and health systems garnered a credit upgrade in the past month:
• Ann & Robert H. Lurie Children’s Hospital of Chicago — from A- to A (S&P)
• Cherokee Nation Healthcare (Tahlequah, Okla.) — from BBB- to BBB (Fitch)
• Chickasaw Health System (Ada, Okla.) — from BBB- to BBB (Fitch)
• Norman (Okla.) Regional Health System — from BB+ to BBB- (S&P)
• Rush University Medical Center (Chicago) — from A to A+ (Fitch)
• Virginia Hospital Center (Arlington, Va.) — from A+ to AA- (Fitch)
Three hospitals and health systems also had positive outlook changes, while nine hospitals and health systems had negative outlook changes.
Related Articles on Hospital Credit Ratings:
3 Hospitals Receive Credit Downgrades in Past Month
EHRs and Health IT Projects: Are They Battering Hospitals’ Financial Profiles?
S&P: Nonprofit Hospitals to Experience Big Negative Pressures Next Year
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
