Join, Follow & Connect
Join Modern Healthcare's LinkedIn group Follow Modern Healthcare on Twitter Join Modern Healthcare's Facebook group Follow Modern Healthcare's Pinterest board Modern Healthcare's Flickr page Modern Healthcare's YouTube Channel Get a Modern Healthcare news feed

Comment Buy Reprints Print Article Share on LinkedIn Share on Facebook Share on Twitter Email this page to a colleague
Healthcare Business News

Moody's to review NYU Langone credit rating

By Melanie Evans
Posted: November 21, 2012 - 10:45 am ET

Moody's Investors Service said analysts would review and may downgrade the A3 credit rating for NYU Langone Medical Center's hospitals “following the damage and interruption” from superstorm Sandy.

The extended closure of NYU Langone Medical Center's Tisch Hospital, which evacuated during superstorm Sandy after losing power, could cost the hospital market share, analysts said in a new report. That possibility would be a key focus of the rating agency's credit review, the report said. Analysts will also consider the drop in hospital revenue and liquidity, as well as the speed of ongoing capital projects, the report said.

Advertisement | View Media Kit


Tisch Hospital had not yet regained utility power, but above ground, the hospital “sustained little damage,” Moody's said in the Nov. 20 report, and plans call for inpatient services to reopen next month. Meanwhile, recovery efforts have reopened buildings that account for 60% of the hospital's revenue, Moody's said.

The hospitals expect to receive insurance, donations and aid from the Federal Emergency Management Agency to help pay for recovery efforts, Moody's said.

What do you think?

Share your opinion. Send a letter to the Editor or Post a comment below.

Post a comment

Loading Comments Loading comments...



Switch to the new Modern Healthcare Daily News app

For the best experience of on your iPad, switch to the new Modern Healthcare app — it's optimized for your device but there is no need to download.