Moody's downgrades Geisinger Health to 'Aa3'

Moody's Investors Service downgraded Danville, Pa.-based Geisinger Health's bonds from "Aa2" and "Aa2/VMIG 1" to "Aa3" and "Aa3/VMIG 1," affecting $1.2 billion of debt outstanding.

The downgrade reflects Geisinger's underperformance relative to management's anticipated margins in 2018, along with Moody's expectation that rapidly executing multiple large growth strategies and operations of its health plan will continue to weigh on Geisinger's performance.

The rating outlook has been revised from negative to stable.

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