The downgrade is based on several factors, including increased expense growth and a weakened liquidity profile.
The outlook is negative, reflecting ongoing challenges in terms of NEOMED’s outsized financial leverage.
Moody’s also affirmed the “Baa3” rating on NEOMED’s $36 million of series 2012 student housing revenue bonds. The affirmation is based a number of factors, including improved occupancy rates of the project.
More articles on healthcare finance:
23% of OB units closed in Penn. over last decade
Growing air ambulance industry presents cost, regulation challenges
A.O. Fox Memorial Hospital plans to eliminate labor and delivery services
