Salem Hospital's Bond Rating Falls
Standard and Poor's rating service downgrades the hospital to negative while reaffirming long-term bond ratings
Originally at HealthcareFinanceNews.com
At the same time, Standard & Poor's affirmed its 'A+' long-term and underlying ratings on AAA ratings on Salem Hospital's other series and variable-rate demand bonds.
The negative outlook reflects the increased pressure on profitability given a shift in Salem's payor mix due to the economic environment and weaker projected operating performance versus original expectations. However, management is in the process of implementing several cost-reduction initiatives, which should offset the impact of the shift in payor mix.
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Comments
The above comment from 'anonymous' is hilarious and over a year past the article - which considering the underlying data is potentially not even newsworthy.
The bulk and weight of the rating remains A+ and the community is and will continue to be well-served. Great things are happening in AND for the community.
It is sad to hear that this hospital is struggling. I don’t like to hear about any hospital struggling for that matter but if their rating is that low, I wouldn’t want to be going there. There are plenty of other hospitals that you can go to like IU Health or other similar facilities. Hopefully they will be able to turn it around for the community.
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