Becker's Healthcare January 22, 2025
There were fewer hospital and health system credit rating downgrades across the three ratings agencies in 2024, but downgrades continued to outpace upgrades, according to a Jan. 22 report from Kaufman Hall.
Seven things to know:
1. There were 95 health system downgrades across Fitch, Moody’s and S&P in 2024, down from 116 in 2023, according to the report.
2. There were 37 upgrades in 2024, up from 33 in 2023.
3. Kaufman Hall Managing Director Lisa Goldstein said in the report that many of the downgrades in 2024 reflected ongoing expense pressure that exceeded revenue growth. Other downgrades reflected outsized increases in debt to fund growth strategies.
4. Most of the upgrades reflected mergers of lower-rated...
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