The downgrade is based on a number of factors, including PRMC’s revised 2017 expectations marking two consecutive years of weaker operating performance. The departure from its historical performance reflects the challenges PRMC faced related to the installation of its EHR system in 2016.
The ratings agency also revised PRMC’s outlook from negative to stable, reflecting Moody’s Investors Service’s expectation PRMC will improve its operating performance to margins more in line with its comparably rated peers.
More articles on healthcare finance:
Fitch affirms ‘A+’ rating on Palomar Health’s bonds
Fitch affirms ‘A’ rating on Dignity Health’s debt
S&P assigns ‘AA-‘ rating to Methodist Le Bonheur Healthcare & Affiliates’ bonds
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