Moody’s also affirmed the “P-2” short-term rating on CHI’s commercial paper backed by self-liquidity.
The ratings downgrades are based on a number of factors, including CHI’s continued weak operating performance across multiple markets and an increase in the health system’s short-term debt which further pressures its liquidity needs.
The outlook is negative, reflecting CHI’s persistent decline in operating performance since 2012.
More articles on healthcare finance:
Moody’s downgrades Peninsula Regional Medical Center’s rating to ‘A3’
Moody’s withdraws rating on Conway Medical Center’s bonds
Fitch affirms ‘A+’ rating on Palomar Health’s bonds
