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Finance company places Butler Health System on financial watch

Butler Memorial Hospital Tower entrance on Friday March 9, 2018.(Justin Guido photo)

Fitch Ratings has issued a rating watch for the Butler Health System related to $79 million in revenue bonds.

The financial services company based in New York placed the health system on the watch in a Sept. 8 announcement.

Fitch Ratings graded BHS with an “A” rating with a negative outlook in August, 2020. The rating given by Fitch is based on the money flow reported by BHS in the 2021 fiscal year.

According to the Fitch report, BHS had an operating loss of $11.2 million. Through the nine months ending March 31, 2022, the system's operating loss was $8.2 million.

BHS's leverage profile has remained solid despite operational challenges, according to the Fitch report.

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