Fitch views athenahealth negatively

Fitch Ratings said it changed the outlook to negative from stable and affirmed the B long-term issuer default rating for athenahealth Group, Inc. The agency also affirmed the senior secured first-lien issue rating at B+/RR3 and the senior unsecured issue rating at CCC+/RR6.

“The negative outlook reflects athenahealth's recent operational underperformance against expectations, driven by low healthcare utilization related to Covid-19, Medicare reimbursement rate reductions, and continued decreases in certain legacy software products. Known episodic attrition and overall lower patient utilization rates were also contributors. These have led to weakened credit protection metrics for the company,” Fitch said in a statement.

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