Fitch says UnitedHealth hack not to have credit impact on NFR hospitals

Fitch does not anticipate any credit impact on not-for-profit hospitals in the United States from the cyberattack at UnitedHealth’s, opens new tab tech unit Change Healthcare 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. Reuters