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Nonprofit Hospitals Get Negative Public Finance Ratings January 19, 2021 A greater number of public entities received finance ratings downgrades than upgrades for the first time since 2013, according to New York City-based credit rating agency Fitch Ratings. Nonprofit hospitals, which have experienced upheavals in the operations amid the coronavirus epidemic, have an uncertain future as the crisis lingers. Overall, Fitch Ratings issued 100 upgrades and 181 downgrades across several sectors, compared with 173 upgrades and 105 downgrades in 2019. Within the hospital sector, however, only five organizations were upgraded, compared with 22 receiving downgrades. Part of the downgrades reflect hospitals needing to turn from profitable elective surgeries, which have been limited or banned during the coronavirus crisis, in favor of focusing resources on managing the pandemic. Fitch Ratings attributed 13 downgrades, two Negative Rating Outlook designations and 17 Negative Watch designatio

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