A range of contributing factors, including an operating loss of $30.8 million and hospital layoffs, is what put EMC on Moody’s watch list for a possible downgrade. The credit rating agency will now review the hospital and decide on its credit rating in the next 90 days, according to the report.
EMC currently has a credit rating of Baa1. If EMC’s credit rating dips below Baa, Moody’s would consider future bond offerings by the hospital “speculative” and “subject to substantial credit risk,” according to the report.
Related Articles on Hospital Credit Ratings:
Four Health Systems Receive Credit Downgrades
Moody’s: 20% of Non-Profit Hospitals in the Red
Moody’s: Medicaid Putting Hospital Credit Ratings at Risk
