Fitch Tower Health Debt
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Fitch Downgrades Tower Health, PA's Long-Term Ratings to 'CCC+'
(2 days ago) People also askDid Fitch downgrade Tower Health System's long-term Issuer Default Rating (IDR)?Fitch Ratings - Austin - 20 Sep 2022: Fitch Ratings has downgraded Tower Health System's, PA (Tower) Long-Term Issuer Default Rating (IDR) to 'CCC+' from 'B+'. Fitch has also downgraded the following bonds issued by, or on behalf of, Tower to 'CCC+' from 'B+':Fitch Downgrades Tower Health, PA's Long-Term Ratings to 'CCC+'fitchratings.comWhy did Fitch lower tower health's credit rating?In September, Fitch Ratings lowered Tower Health’s credit rating to “CCC," citing the health system's continued operating losses and "extraordinarily low" cash reserves relative to its long-term debt. Fitch gives its CCC rating, one of its lowest, to debt it believes faces a "real possibility of default."Tower Health's audited financials show larger 2023 operating loss than bizjournals.comDoes Tower Health System have a long-term Issuer Default Rating?Fitch Ratings - Austin - 21 Oct 2021: Fitch Ratings has affirmed Tower Health System's, PA (Tower Health) Long-Term Issuer Default Rating (IDR) and the bond rating on the following bonds issued by, or on behalf of, Tower at 'B+': --$160,065,000 The Berks County Municipal Authority (Reading Hospital & Medical Center Project) series 2012A;Fitch Affirms Tower Health (PA) Long-Term Ratings at 'B+'; Outlook fitchratings.comDoes Tower Health have a bad credit rating?Tower Health has received a credit rating downgrade for the second time in the past month. S&P Global Ratings lowered its rating on the Berks County health system, which has three hospitals in the Philadelphia region, from "B" to speculative "CCC+" with a negative outlook.Tower Health's 'diminished financial flexibility' cited in latest bond ratin…bizjournals.comFeedbackFitch Ratingshttps://www.fitchratings.com/research/us-publicFitch Downgrades Tower Health, PA's Long-Term Ratings …WebTower Health's unrestricted liquidity position also continues to weaken, falling to just $208.1 million, which results in a precipitously weak cash-to-total debt ratio of just 13.4%, and 39.3 days cash on hand (DCOH; as calculated by Fitch).
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Tower Health's audited financials show operating loss for …
(7 days ago) WebTower Health's debt obligations dropped slightly from $1.28 billion at the start of fiscal 2023 to just under $1.27 billion as of June 30. Fitch Ratings lowered Tower Health’s credit rating
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Fitch Downgrades Tower Health, PA's Long-Term Ratings …
(6 days ago) WebMEDIA CONTACTS. Sandro Scenga. New York. +1 212 908 0278. [email protected]. Fitch Ratings-Austin-19 September 2023: Fitch Ratings has downgraded Tower Health System's, PA (Tower) Long-Term Issuer Default Rating (IDR) to 'CCC' fr.
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Tower Health gets another credit rating downgrade from …
(8 days ago) WebFitch Ratings downgraded Tower Health’s credit rating to “CCC,” one of the agency’s lowest ratings, citing its continued operating losses in the year that ended June 30, and extraordinarily low cash reserves relative to long-term debt.
https://www.inquirer.com/health/tower-health-credit-downgrade-ccc-fitch-ratings-cash-20230920.html
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Tower Health gets another big credit rating downgrade …
(3 days ago) WebTower, a nonprofit health system based in West Reading, Berks County, has recorded operating losses of $854 million over the last three years, according to Fitch, after a rapid, money-losing expansion …
https://www.inquirer.com/news/tower-health-fitch-downgrade-ccc-losses-cash-burn-20220920.html
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Fitch Downgrades Tower Health, PA's Long-Term Ratings to …
(5 days ago) WebFitch Ratings - Austin - 20 Sep 2022: Fitch Ratings has downgraded Tower Health System's, PA (Tower) Long-Term Issuer Default Rating (IDR) to 'CCC+' from 'B+'. Fitch has also downgraded the following Hospital for Children or the Tower Health Medical Group. All Tower debt is fixed-rate. ANALYTICAL CONCLUSION
https://emma.msrb.org/P21613246-P21243165-P21667316.pdf
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Tower Health's 'diminished financial flexibility' cited in bond rating
(Just Now) WebTower Health's debt obligations dropped slightly from $1.28 billion at the start of fiscal 2023 to just under $1.27 billion as of June 30. In a statement provided to the Business Journal in August
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Tower Health gets a slight boost from Fitch Ratings - Inquirer.com
(6 days ago) WebFitch Ratings on Thursday said Tower Health’s prospects had improved slightly now that management of the Berks County nonprofit had started taking steps to unload money-losing assets. But of significant concern to Fitch is Tower’s $1.58 billion debt load, including the amount Tower owes on leases of medical office buildings it sold …
https://www.inquirer.com/business/health/tower-health-outlook-stable-fitch-ratings-20211022.html
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DISTRESSED DAILY: Tower Health’s Cash Bleed Worsens Debt Ratios
(6 days ago) WebKevin Simauchi. Tower Health is losing so much money that its cash-to-debt ratio -- a key measure of the company’s financial stability -- has fallen below 20%. The troubled Reading, Pennsylvania-based hospital system has about $1.8 billion of debt outstanding with about $341.5 million of unrestricted cash, according to Fitch Ratings. Its
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Tower Health suffers rating downgrade as it strives to recover
(8 days ago) WebTower continues to suffer from a “precipitously weak” cash-to-total debt ratio of 13.4%, Fitch says, estimating that the system has 39 days cash on hand. For perspective, Fitch said in a July report that the median cash-on-hand figure for nonprofit hospitals was 216 days. “As the Fitch report notes, Tower Health ended fiscal year …
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Fitch downgrades Pennsylvania's Tower Health Bond Buyer
(4 days ago) WebSeptember 21, 2023, 12:42 p.m. EDT 2 Min Read. Fitch Ratings downgraded Pennsylvania's Tower Health Systems after the non-profit regional healthcare system reported continued budgetary shortfalls
https://www.bondbuyer.com/news/fitch-downgrades-pennsylvanias-tower-health
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Tower Health's rapid expansion sends its finances into a tailspin
(5 days ago) WebTower, which was known as Reading Health System prior to the 2017 transaction, had $1.3 billion of long-term debt outstanding on June 30, 2020, according to Fitch.
https://www.bondbuyer.com/news/tower-healths-rapid-expansion-sends-its-finances-into-a-tailspin
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Fitch Rates American Tower's Proposed Debt Offering 'BBB+'
(Just Now) WebFitch Ratings - Chicago - 22 May 2024: Fitch Ratings has assigned a 'BBB+' rating to American Tower Corporation's (AMT) proposed two-tranche Euro-denominated senior notes due in 2030 and 2034. Net proceeds from these notes will be used to repay existing Euro revolver balances and Euro term loan and for general corporate purposes.
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Fitch Rates Elevance's Senior Notes Issuance 'BBB+'
(5 days ago) WebMon 20 May, 2024 - 11:00 AM ET. Fitch Ratings - Chicago - 20 May 2024: Fitch Ratings has assigned a 'BBB+' rating to Elevance Health, Inc.'s (Elevance) issuance of senior unsecured notes across three tranches (5-yr, 10-yr, and 30-yr). The existing ratings assigned to Elevance and its subsidiaries are not affected by today's rating action.
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Fitch Affirms Palisades Medical Center's (NJ) Revs at 'BBB'; Outlook
(8 days ago) WebFitch Ratings has affirmed the 'BBB' rating on the following revenue bonds issued by the New Jersey Health Care Facilities Financing Authority on behalf of the Palisades Medical Center Obligated Group (PMC): --$47,555,000 series 2013 revenue and refunding bonds. The Rating Outlook is stable.
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Fitch Rates $263MM New Jersey EFA Bonds 'A'; Affirms IDR at 'A+
(9 days ago) WebMon 11 Sep, 2023 - 9:02 AM ET. Fitch Ratings - New York - 11 Sep 2023: Fitch Ratings has assigned an 'A' rating to $262,765,000 State of New Jersey Educational Facilities Authority (NJEFA) revenue bonds consisting of: --$185,220,000 higher education capital improvement fund issue series 2023A; --$77,545,000 higher education equipment leasing
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Fitch Affirms Hackensack University Medical Center, NJ's Revs at 'A
(5 days ago) WebFitch Ratings-New York-14 September 2012: Fitch Ratings affirms the following revenue bonds issued on behalf of Hackensack University Medical Center (HackensackUMC) at 'A-':--$236.2 New Jersey Health Care Facilities Financing Authority, series 2008;--$79.1 million New Jersey Health Care Facilities Financing Authority, series …
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Medical debt a harsh reality for millions of Americans - KOLO
(Just Now) WebPIRG says nearly one in 10 people in the US have medical debt. This includes 11 million people who owe more than $2,000 and three million people who owe more than $10,000. In addition to reducing
https://www.kolotv.com/2024/05/22/medical-debt-harsh-reality-millions-americans/
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Fitch, S&P downgrade Adventist Health bond rating - Sacramento …
(9 days ago) WebFitch estimated that the new bond sale, which would pay for the new acquisitions and pay down and restructure current debt, would add $750 million to Adventist’s long-term debt, which would put
https://www.bizjournals.com/sacramento/news/2024/05/20/adventist-health-bond-rating-downgraded.html
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Fitch Rates Barnabas Health's (NJ) Series 2012A and 2012 Bonds …
(Just Now) WebDebt payments are secured by a pledge of the gross revenues of the obligated group, which represented approximately 95.7% of the consolidated system assets and 92% of the consolidated revenues in fiscal 2011, and mortgages on the system's acute care facilities. For more detail on Barnabas Health, please refer to Fitch's press …
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Fitch Rates American Tower's Proposed Debt Offering 'BBB+'
(8 days ago) WebMay 23, 2024 at 05:13 am EDT. Fitch Ratings has assigned a 'BBB+' rating to American Tower Corporation's (AMT) proposed two-tranche Euro-denominated senior notes due in 2030 and 2034. Net proceeds from these notes will be used to repay existing Euro revolver balances and Euro term loan and for general corporate purposes.
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Fitch Affirms Memorial Health Services (CA) at 'AA-'; Outlook …
(4 days ago) WebFitch Affirms Sutter Health, CA's Rating at 'A+'; Outlook Revised to Positive; Fitch Takes Various Rating Actions on U.S. Enhanced Municipal Bonds and TOBs; Fitch Rates Adventist, CA's 2024 Revs 'BBB+'; Downgrades Outstanding Debt; Outlook Stable; Fitch Takes Various Rating Actions on U.S. Enhanced Municipal Bonds and TOBs
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