The downgrade is based on a number of factors, including ongoing cash flow pressures, lower-than-budgeted revenue growth and rising expenses associated with ongoing capital improvements.
The outlook is negative, reflecting Moody’s Investors Service’s expectation the group will face continued operational challenges and further cash decline.
More articles on healthcare finance:
Fitch affirms ‘BB’ rating on Marietta Memorial Health System’s bonds
S&P assigns ‘AA-/A-+’ rating to Hospital Sisters Health System’s bonds
Moody’s affirms ‘Aa3’ rating on Partners HealthCare’s bonds
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