Moody’s downgrades South Georgia Medical Center to ‘Baa3’, maintains negative outlook

Moody’s Investors Service downgraded the Hospital Authority of Valdosta (Ga.) and Lowndes County’s revenue certificates to “Baa3” from “A3,” affecting $48 million of debt. The hospital authority does business as South Georgia Medical Center.

Advertisement

The downgrade is a result of the medical center’s significant financial losses expected in fiscal year 2018 and unexpected departure of its CEO. Moody’s favorably viewed the hospital’s adequate cash reserves  and absence of immediate competition.

The outlook remains negative, reflecting the hospital’s expected operating losses in fiscal year 2018.

More articles on healthcare finance:
12 hospitals with strong finances
Cash-strapped California hospital to close ER Sept. 16
MU Health Care’s annual revenue hits $1B for first time

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.