West Penn bond rating takes a hit
Fitch Ratings has downgraded West Penn Allegheny Health Systems' bond rating and Standard & Poor's cited "negative implications" in light of the announcement that the health system had overestimated revenue by $73 million. Fitch Ratings has downgraded West Penn's $758 million in outstanding series 2007A bonds from BB to BB- and gave the hospital system a negative outlook. Standard & Poor's gave a BB rating to the Allegheny County Hospital Development Authority bonds issued for West Penn Allegheny on Creditwatch "with negative implications pending a meeting with management in September," according to a release.
- Antibiotic Overuse a 'Huge Threat' to Patient Safety, Says CDC
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- Consumerism Drives Healthcare Branding, Rebranding Efforts
- 3 Traits Personality Assessments Can't Reveal
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- CHS Hacked, 4.5M Patient Records Compromised
- Business Roundup: M&A Activity Down Slightly in First Half of 2014
- CFO Exchange: Healthcare Leaders Share 5 Innovative Ideas
- CNO on Hospital Redesign: 'You Can't Over-Communicate'
- Large Employers Trimming Healthcare Spending