Fitch says UnitedHealth unit hack to have no credit impact on not-for-profit hospitals
Reuters
Published Apr 01, 2024 01:04PM ET
Updated Apr 02, 2024 06:01AM ET
(Reuters) - Fitch does not anticipate any credit impact on not-for-profit hospitals in the United States from the cyberattack at UnitedHealth (NYSE:UNH)'s tech unit Change Healthcare (NASDAQ:CHNG) that caused disruption to pharmacies across the U.S., the ratings agency said on Monday.
The agency said it does not see any negative rating implications tied to the hack if the care providers can return to normal operations in the near term and maintain a large-enough cash cushion.
The cyberattack at Change, disclosed on Feb. 21 and initially attributed to "suspected nation-state associated cybersecurity threat actor", was later blamed on hackers who identified themselves as the "Blackcat" ransomware group.
Change Healthcare is a vital lynchpin in the system for making and clearing insurance claims as it processes roughly half the medical claims in the United States.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.