Holy Redeemer Health System, Pennsylvania Montgomery County Higher Education&Health Authority; Hospital - S&P Global Ratings’ Credit Research

Holy Redeemer Health System, Pennsylvania Montgomery County Higher Education&Health Authority; Hospital

Holy Redeemer Health System, Pennsylvania Montgomery County Higher Education&Health Authority; Hospital - S&P Global Ratings’ Credit Research
Holy Redeemer Health System, Pennsylvania Montgomery County Higher Education&Health Authority; Hospital
Published Aug 11, 2023
9 pages (4036 words) — Published Aug 11, 2023
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

S&P Global Ratings lowered its long-term rating to 'BB' from 'BB+' on the Montgomery County Higher Education&Health Authority, Pa.'s revenue bonds, issued for Holy Redeemer Health System (d/b/a Redeemer Health [RH]). The outlook is negative. The downgrade reflects Holy Redeemer's rapidly declining operating margins, particularly in the first nine months of fiscal 2023, coupled with a trend of diminishing reserves that we believe no longer offsets the magnitude of the losses. Securing the bonds is a gross receipts pledge from the obligated group and a mortgage on Holy Redeemer Hospital. The obligated group consists of RH (Holy Redeemer Hospital, St. Joseph Manor, Redeemer Lafayette, Redeemer Health Home Care&Hospice--Pennsylvania, and Holy Redeemer Support at Home) and Holy

  
Brief Excerpt:

...+ S&P Global Ratings lowered its long-term rating to '##' from '##+' on the Montgomery County Higher Education & Health Authority, Pa.'s revenue bonds, issued for Holy Redeemer Health System (d/b/a Redeemer Health [RH]). + The outlook is negative. + The downgrade reflects Holy Redeemer's rapidly declining operating margins, particularly in the first nine months of fiscal 2023, coupled with a trend of diminishing reserves that we believe no longer offsets the magnitude of the losses....

  
Report Type:

Full Report

Issuer
Holy Redeemer Health System
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Holy Redeemer Health System, Pennsylvania Montgomery County Higher Education&Health Authority; Hospital" Aug 11, 2023. Alacra Store. Nov 05, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Holy-Redeemer-Health-System-Pennsylvania-Montgomery-County-Higher-Education-Health-Authority-Hospital-3041142>
  
APA:
S&P Global Ratings’ Credit Research. (). Holy Redeemer Health System, Pennsylvania Montgomery County Higher Education&Health Authority; Hospital Aug 11, 2023. New York, NY: Alacra Store. Retrieved Nov 05, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Holy-Redeemer-Health-System-Pennsylvania-Montgomery-County-Higher-Education-Health-Authority-Hospital-3041142>
  
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