Moody’s downgrades Sonoma Valley Health District’s GO bonds to ‘Baa1’

Moody’s Investors Service has downgraded Sonoma (Calif.) Valley Health Care District’s general obligation bonds to ‘Baa1’ from ‘A1,’ affecting approximately $23 million of rated GO debt.

Advertisement

The downgrade is based on several factors, including the district’s narrow liquidity and weak balance sheet. The rating is supported by the district’s large tax base.

Moody’s has assigned a negative outlook, reflecting projected weak financial performance indicated on the district’s 2015 unaudited financial and 2016 budget.

More articles on finance:
Fitch: Capital spending will rise for nonprofit hospitals
Moody’s: Entrance of nonprofit hospitals into health insurance will rise
Moody’s affirms New Hanover Regional Medical Center’s ‘A1’ rating

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Download Whitepaper

The cost-saving opportunity most health systems overlook

Many hospitals and health systems scrutinize staffing, service lines, and payer contracts for savings. Fewer look at one of their largest assets: real estate.…

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.