Healthcare industry

WellStar Health System expanded its hospital network to 11 from five after Friday’s closing on the acquisition of five hospitals from for-profit Tenet Health, and a merger with nonprofit West Georgia Health, but its ratings suffered.

Standard & Poor’s downgraded Presence Health two notches to BBB-minus and put the rating on CreditWatch with negative implications.

Baylor Scott & White Health, the largest not-for-profit healthcare system in Texas, will issue $536 million of taxable and $382 million of tax-exempt bonds.

Good Shepherd Health System faces a rising risk of default on $150 million of debt as the East Texas nonprofit seeks a merger partner, Moody’s Investors Service says.

Junk-rated California hospital chain Verity Health received an outlook boost Wednesday, when Standard & Poor’s boosted its outlook to stable from negative while affirming its CCC rating.

The University of Pennsylvania received a one-notch bond rating upgrade from Moody’s Investors Service, to Aa1 from Aa2.

A higher-than-expected 2015 operating loss at Illinois-based Presence Health is expected to trigger a technical default that would allow bondholders and banks to accelerate some debt repayments.

Presence Health, one of the Chicago area’s largest not-for-profit systems, is under review for a downgrade as Moody’s Investors Service digs into its fiscal 2015 results.

The savings are that New York City Mayor Bill de Blasio trumpets from significant changes to the city’s employee health plans are a matter of debate.

The North Broward Hospital District in Florida saw Moody’s Investors Service drop its bond ratings three notches to Baa2 amid a severe decline in revenue and new probes into its operations.