The ratings assignment reflects a number of factors, including the district’s ongoing bankruptcy developments and the transition of hospital management at Gainesville-based North Texas Medical Center from the Gainesville Hospital District to McAllen (Texas) Medical Center Physicians, a subsidiary of King of Prussia, Pa.-based Universal Health Services, among other factors.
Moody’s assigned the district a developing outlook, reflecting the likelihood of a potential rating change as the district works through its bankruptcy case and finalizes its agreement with MMCP.
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