Health-Care Companies Face a Wave of Defaults Next Year
Ten firms saw their ratings drop to default in 2023 and many more may follow in 2024, Moody’s says
A Cano Health medical center submerged in water in a flooded neighborhood following Hurricane Ian in Orlando, Florida, in September 2022.
Photographer: Brian Carlson/BloombergWelcome to The Brink. I’m Eliza Ronalds-Hannon, a reporter in Atlanta, where I’m looking at warnings flaring up among leveraged health-care companies in the US and Canada. We also have news on Indian payment firm Ebix, UK fashion retailer Farfetch and US broadcaster Diamond Sports. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @ElizaHannon.
North America’s overleveraged health-care companies have begun to default on debt payments, and Moody’s says that may just be the beginning.