Additionally, Moody’s affirmed the “A1” rating on JMCGH’s $272 million of outstanding debt.
The assignment and affirmation are a result of several factors, including the hospital’s strong market position, variety of services offered, solid debt service coverage and its proposed refinancing. Moody’s also acknowledged JMCGH’s heightened competition, unexpected decline in operating performance and upcoming revenue cycle information technology conversion.
The outlook was revised to negative from stable, reflecting the JMCGH’s softer operating margin and risks associated with the upcoming IT conversion.
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