The downgrade is based on several factors, including CHI’s continued weak operating performance and decline of unrestricted cash and investments.
The outlook is negative, reflecting CHI’s sizable decline in operating performance since 2012.
Moody’s also downgraded CHI’s variable rate demand bonds to “A3/VMIG 2” from “A2/VMIG 1” and its commercial paper to “P-2” from “P-1.”
More articles on healthcare finance:
Opponents come out against proposal to charge Ohio Medicaid enrollees
Fitch assigns ‘A’ rating to Inspira Health’s bonds
Independent emergency group taps McKesson for RCM services
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
