Fitch Ratings downgraded Butler Health System (PA)’s ‘A’ Issuer Default Rating (IDR) and revenue rating on its $79 million revenue bonds, series 2015A to negative.
The bonds were issued by Butler County Hospital Authority on behalf of BHS.
“Butler financial results through December 31 suggest that its operating challenges persist, exacerbated by inflationary pressures on labor and supplies, but also patient volumes, which have yet to rebound to pre-pandemic levels,” Fitch said.
Butler and Excela Health, also in Pensylvania, completed a merger last month. Read more.
