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More discouraging financial news arrived for the Butler Health System on Monday, April 1, as credit rating agency Moody’s downgraded the hospital system’s credit rating from Baa3 to Ba1, citing “ongoi.
Financial statements issued earlier this month indicate two Pittsburgh hospitals sustained operating losses last year similar to the losses sustained by Independence Health System over the same period.
Independence Health System continued to lose money as it passed its one-year mark at the end of December 2023, though annual losses have shrunk by almost $9 million, according to recently released financial reports. Reports indicate the health system formed by the merger of Excela and Butler health systems has