Moody's Investors Service has downgraded the debt rating on Tyler-based East Texas Medical Center Regional Healthcare System to "Ba1" from "Baa3," affecting approximately $286 million of outstanding rated revenue bonds.
The rating downgrade is based on several factors, including ETMC's weakening financial performance and thinning debt service coverage.
The outlook is negative, reflecting Moody's Investors Service's expectation that ETMC's performance will continue to decline in the near term.