4 Health Systems Suffer Credit Rating Downgrades

Fitch and Moody's cite rising expenses, operating losses, and staffing challenges as factors behind the downgrades.

Published on Feb. 25, 2026

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Multiple hospitals and health systems have faced credit rating downgrades from Fitch Ratings and Moody's Investors Service in 2026 due to a range of financial pressures, including rising expenses, ongoing operating losses, and challenging work environments.

Why it matters

Credit rating downgrades can make it more difficult and expensive for health systems to borrow money for capital projects and other investments, potentially impacting their ability to provide care and services to their communities.

The details

The four health systems that received downgrades include John Fitzgibbon Memorial Hospital, Naples Comprehensive Health, Parkview Health, and Presbyterian Healthcare Services. The reasons cited by the ratings agencies include failure to make debt payments, slower-than-expected margin improvement, lower normalized operating performance, and several years of weak operating performance.

  • In 2026, multiple hospitals and health systems received credit rating downgrades.

The players

John Fitzgibbon Memorial Hospital

A hospital located in Marshall, Missouri that had its credit rating downgraded to 'D' from 'C' by Fitch Ratings due to failure to make required debt payments.

Naples Comprehensive Health

A health system in Naples, Florida that had its credit rating downgraded to 'BBB+' from 'A-' by Fitch Ratings and to 'Baa1' from 'A3' by Moody's Investors Service due to slower-than-expected margin improvement and high leverage.

Parkview Health

A health system based in Fort Wayne, Indiana that had its credit rating downgraded to 'A1' from 'Aa3' by Moody's Investors Service due to a lower level of normalized operating performance and increasing capital spending.

Presbyterian Healthcare Services

An integrated health system in Albuquerque, New Mexico that had its credit rating downgraded to 'AA-' from 'AA' by Fitch Ratings due to several years of weak operating performance.

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The takeaway

These credit rating downgrades highlight the ongoing financial pressures facing many hospitals and health systems, including rising costs, operational challenges, and the need to make significant capital investments. Health systems will likely need to find ways to improve their financial performance and strengthen their balance sheets in order to maintain access to affordable financing.