Moody's downgrades Hutchinson Regional Medical Center's rating to 'Baa3'

Moody's Investors Service downgraded Hutchinson (Kan.) Regional Medical Center's revenue bond rating from "Baa2" to "Baa3," affecting $36 million of rated debt.

The rating reflects the hospital's unexpected deviation from budgeted performance in fiscal year 2018. Moody's expects performance moving forward will be hard pressed to improve to historically higher levels given volume instability and payer reimbursement pressures.

The outlook was revised from stable to negative.

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