Moody's Investors Service has affirmed the"Baa1" rating assigned to approximately $62 million of series 2013 fixed rate revenue bonds issued on behalf of Ingalls Health System, a single-hospital system located in Harvey, Ill., and revised the system's outlook to negative from stable.
The 374-bed hospital's negative outlook reflects its weaker operating margins in fiscal 2014 and interim fiscal 2015.
The rating affirmation was based on a number of factors, including IHS' strong balance sheet measures and limited comprehensive debt exposure.
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