Despite recently merging with Excela Health, Butler Health System is still facing financial hardships.
Fitch Ratings recently downgraded Butler Health System’s credit rating from an “A” to “BBB.” Fitch Ratings is a credit rating agency that rates the viability of investments relative to the likelihood of default.
Fitch made the move citing continued operating challenges and low patient volumes. While the new rating indicates a low risk of default, it also warns that “adverse business or economic conditions are more likely to impair this capacity.”
Butler Health System reported over $33 million for a nine-month period ending on March 31.
BHS and Excela officially approved their merger earlier this year, renaming the organization Independence Health System.
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