Moody’s downgrades Ohio Valley General Hospital’s rating to ‘Caa1’

Moody’s Investors Service downgraded the rating to “Caa1” from “B2” on McKees Rocks, Pa.-based Ohio Valley General Hospital, affecting $24 million of debt.

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The downgrade is a result of several factors, including the hospital’s decreasing cashflow, crumbling liquidity reserves, weakening debt coverage and deteriorating ability to meet financial covenants.

The outlook is negative, reflecting Moody’s expectation that the hospital’s liquidity measures will continue to decline with a negative operating margin, increased debt risk and limited means to meet financial covenants.  

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