Fitch Rat­ings has low­ered the credit rat­ing of Catholic Health Ini­tia­tives by three notches, cit­ing the in­te­grated health sys­tem’s weaker fi­nan­cial pro­file, while A.M. Best Co. down­graded CHI’s health in­sur­ance sub­sidiary.

Modern Healthcare - - LATE NEWS -

CHI, a na­tional sys­tem head­quar­tered in Englewood, Colo., closed the books on the first nine months of its fis­cal year with a net loss of $568.1 mil­lion. Health IT costs, in­vest­ment losses and trou­bles with its health in­sur­ance com­pany spear­headed the mas­sive deficit. CHI’s credit rat­ing from Fitch, which cov­ers $6 bil­lion of out­stand­ing debt, now sits at BBB+, down from A+. Moody’s In­vestors Ser­vice and Stan­dard & Poor’s each down­graded CHI’s bond rat­ings this year.

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