S&P downgrades Care New England Health System’s rating to ‘BB-‘


https://www.beckershospitalreview.com/finance/s-p-downgrades-care-new-england-health-system-s-rating-to-bb.html

Image result for weak financial hospital

S&P Global Ratings downgraded Providence, R.I.-based Care New England Health System’s rating to “BB-” from “BB.”

“The lower rating reflects CNE’s prolonged period of extremely weak financial performance, thin balance sheet metrics, and declining volume trends that portend deeper utilization challenges and competitive threats within its overall service market,” said Jennifer Soule, an S&P Global Ratings credit analyst.

The outlook is negative, reflecting uncertainties regarding CNE’s ability to shore up finances and close Pawtucket, R.I-based Memorial Hospital in a timely manner. In addition, S&P acknowledged CNE’s continued struggle to formalize a partnership with another provider.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.