Moody's Investors Service downgraded the rating on Lawrenceville, Ga.-based Gwinnett Medical Center to "A3" from "A2," affecting approximately $138 million of outstanding revenue anticipation certificates.
The downgrade is the result of a number of factors, including the medical center's decline in operating performance in fiscal year 2016 and continued poor performance through the first nine months of fiscal year 2017.
The outlook is stable, reflecting Moody's Investors Service's expectation the medical center will not experience a further decline in operating performance relative to anticipated fiscal year 2017 levels.