Moody’s downgrades rating to ‘Baa2’ on Memorial Hospital at Gulfport

Moody’s Investors Service downgraded Memorial Hospital at Gulfport (Miss.) revenue bonds to “Baa2” from “Baa1,” affecting $49.3 million of revenue bonds issued through the City of Gulfport.

Advertisement

 

The downgrade is the result of several factors, including the health system’s deviance from budgeted expectations, a pricey EMR installation and consistent departure from historical performance in operating and liquidity margins.

With the downgrade, the outlook was revised to stable from negative, reflecting the system’s low debt burden and potential to strengthen the balance sheet with manageable finance plans.

More articles on healthcare finance:
6 largest gifts from individuals to healthcare organizations in 2017
4 of 37 provider-sponsored health plans profitable in 2015
Illinois ordered to increase Medicaid funding to providers during budget impasse

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.