Tower Health Ratings Decline

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Fitch Downgrades Tower Health, PA's Long-Term Ratings to 'CCC'

(4 days ago) WEBTue 19 Sep, 2023 - 4:56 PM ET. Fitch Ratings - Austin - 19 Sep 2023: Fitch Ratings has downgraded Tower Health System's, PA (Tower) Long-Term Issuer Default Rating (IDR) to 'CCC' from 'CCC+'. Fitch has also downgraded the following bonds issued by, or on …

https://www.fitchratings.com/research/us-public-finance/fitch-downgrades-tower-health-pa-long-term-ratings-to-ccc-19-09-2023

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Tower Health suffers rating downgrade amid persistent financial …

(9 days ago) WEB"The downgrade reflects Tower Health's significant ongoing operating losses that are expected to continue in fiscal 2023, and a steep decline in unrestricted reserves to a …

https://www.beckershospitalreview.com/finance/tower-health-suffers-rating-downgrade-amid-persistent-financial-struggles

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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 …

https://www.bizjournals.com/philadelphia/news/2023/10/17/tower-health-hospitals-bond-rating-downgrade-s-p.html

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Tower Health gets another credit rating downgrade from Fitch, …

(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) WEBPublished Sep. 20, 2022, 12:15 p.m. ET. Fitch Ratings Tuesday slashed Tower Health’s credit rating to the “exceptionally rare” level of ‘CCC+,’ asserting “that Tower’s pathway to financial stability is much more …

https://www.inquirer.com/news/tower-health-fitch-downgrade-ccc-losses-cash-burn-20220920.html

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Fitch Downgrades Tower Health's (PA) Outstanding Bonds

(1 days ago) WEBFri 30 Oct, 2020 - 2:31 PM ET. Fitch Ratings - Austin - 30 Oct 2020: Fitch Ratings has downgraded its long-term rating two notches on Tower Health System, PA (Tower) to …

https://www.fitchratings.com/research/us-public-finance/fitch-downgrades-tower-health-pa-outstanding-bonds-to-bb-outlook-revised-to-negative-30-10-2020

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S&P downgraded Tower Health's credit rating by two notches to 'B'

(9 days ago) WEBPublished Feb. 8, 2023, 12:44 p.m. ET. Standard & Poor’s downgraded Tower Health’s credit rating by two notches, to “B” from “BB-,” citing the nonprofit health system’s …

https://www.inquirer.com/business/health/tower-health-credit-downgrade-sp-operating-losses-dcoh-20230208.html

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Tower Health bond rating downgraded by S&P over 'significant …

(1 days ago) WEBThe rating agency noted Tower Health posted operating losses, albeit narrowed, through the interim three-month period that ended Sept. 30. The amount of …

https://www.bizjournals.com/philadelphia/news/2023/02/08/tower-health-s-p-bond-rating-downgrade-reading-bb.html

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Tower Health's days cash on hand dropped again, as finances …

(3 days ago) WEBPublished May 26, 2023, 4:38 p.m. ET. Tower Health’s finances took another turn for the worse in the nine months through March, as the not-for-profit health system continued …

https://www.inquirer.com/news/tower-health-financial-results-cash-reserves-down-20230526.html

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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 …

https://www.bondbuyer.com/news/fitch-downgrades-pennsylvanias-tower-health

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Tower Health downgraded for 2nd time in weeks - Becker's …

(6 days ago) WEBWest Reading, Pa.-based Tower Health had its long-term rating downgraded two notches to "CCC+" from "B" amid "significant ongoing operating losses," S&P Global said Oct. 4.. It was the second

https://www.beckershospitalreview.com/finance/tower-health-downgraded-for-2nd-time-in-weeks.html

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Tower Health, hit by another credit downgrade, looks for a buyer

(3 days ago) WEBTower Health has been hit with another bond downgrade as its losses continue. On Monday, Fitch Ratings Inc. downgraded the West Reading-based health system to B+, a highly speculative junk bond. Th…

https://www.readingeagle.com/2021/03/01/tower-health-hit-by-another-credit-downgrade-looks-for-a-buyer/

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Fitch Downgrades Tower Health, PA's Long-Term Ratings to 'CCC+'

(4 days ago) WEBTue 20 Sep, 2022 - 9:18 AM ET. Fitch Ratings - Austin - 20 Sep 2022: Fitch Ratings has downgraded Tower Health System's, PA (Tower) Long-Term Issuer Default Rating …

https://www.fitchratings.com/research/us-public-finance/fitch-downgrades-tower-health-pa-long-term-ratings-to-ccc-20-09-2022

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Berks County Municipal Authority, Pennsylvania Tower Health; …

(5 days ago) WEBthe past few years, per S&P Global Ratings' calculation. Tower Health's MTI covenant is based on the obligated group only. Overall unrestricted reserves continue to weaken …

https://emma.msrb.org/P21656956-P21275226-P21702860.pdf

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Tower Health rejects 4th purchase offer; 'I'm not sure what they're

(4 days ago) WEBTower Health initially turned down a $675 million offer from StoneBridge in November 2022. In partnership with Allentown, Pa.-based Lehigh Valley Health …

https://www.beckershospitalreview.com/finance/tower-health-rejects-4th-purchase-offer-im-not-sure-what-theyre-thinking-stonebridge-ceo-says.html

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Tower Health reduces operating loss to $141.9 million; projects

(2 days ago) WEBThe decline in patient revenue is due in part to Tower selling Chestnut Hill Hospital for $28 million in January to a group led by Tower Health bond rating …

https://www.bizjournals.com/philadelphia/news/2023/08/30/tower-health-berks-hospitals-loss-profit.html

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Tower Health writes off $370 million in losses but finances …

(5 days ago) WEBOct. 28—Tower Health posted a $370 million loss in the value of the hospitals, urgent cares and other assets that it bought in scaling up from a single hospital in Berks County into a health system in the competitive suburban Philadelphia market, according to audited financial statements for fiscal 2021 that were released Wednesday. That means Tower …

https://news.yahoo.com/tower-health-writes-off-370-044800019.html

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Tower Health suffers rating downgrade as it strives to recover

(8 days ago) WEBIn 2017, the Reading Health System, anchored by Reading Hospital, acquired five hospitals in the Philadelphia area and formed the Tower Health …

https://www.chiefhealthcareexecutive.com/view/tower-health-suffers-rating-downgrade-as-it-strives-to-recover

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Best hospitals in NJ stumble in patient safety scores - Bergen Record

(7 days ago) WEBStill, New Jersey outpaced the rest of the U.S. in top hospital grades, with 76% getting an "A" or "B" grade compared with 54% nationally. No New Jersey hospital …

https://www.northjersey.com/story/news/health/2023/11/07/best-hospitals-nj-stumble-patient-safety-scores/71472776007/

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Tower Health’s cash reserves fell by $54 million over the summer

(2 days ago) WEBTower Health reported a smaller operating loss over the summer, compared to last year, but its cash reserves continued a yearslong decline. Tower had $154 …

https://www.msn.com/en-us/money/companies/tower-healths-cash-reserves-fell-by-dollar54-million-over-the-summer/ar-AA1jFmuE

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Tower Health (PA) Credit Ratings :: Fitch Ratings

(5 days ago) WEBFitch Affirms Tower Health (PA) Long-Term Ratings at 'B+'; Outlook Revised to Stable. Rating Action Commentary / Mon 01 Mar, 2021. Fitch Downgrades …

https://www.fitchratings.com/entity/tower-health-pa-credit-summary-96247218

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Palisades Medical Center at Hackensack Meridian Health

(1 days ago) WEBPalisades Medical Center at Hackensack Meridian Health 7600 River Road, North Bergen, NJ 07047-6217. Book Online 1-531-230-8330.

https://health.usnews.com/best-hospitals/area/nj/palisades-medical-center-6220425

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Tower Health financial losses continue - Inquirer.com

(2 days ago) WEBTower’s revenue in the year ended June 30 was $2.17 billion, down slightly from $2.19 billion the previous year. Its operating loss was $195 million, down from $244 …

https://www.inquirer.com/business/health/tower-health-finances-earnings-reading-hospital-20220823.html

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