Fitch upgrades Lifespan’s outlook to stable, affirms bond ratings at BBB+

Providence Business NewsKatie CastellaniJanuary 25, 2024

The upgraded outlook comes after the health system closed out 2023 with an $8.6 million operating income, marking a dramatic increase from the $56 million loss in 2022.

Fitch stated its outlook revision was based on expectations that Lifespan would return to a stronger operating margin of earnings before interest, taxes, depreciation and amortization – a key profitability measure – of 6% or greater in 2024 and beyond. Lifespan ended 2023 with an operating EBITDA margin of 3.7%.

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