Moody's revises Indiana Regional Medical Center's outlook to negative

Moody's Investors Service has affirmed the "Baa3" ratings on Indiana Borough, Pa.-based Indiana Regional Medical Center's bonds and revised the hospital's outlook to negative from stable.

The rating action affects $35.1 million of outstanding rated debt.

The rating affirmation on the 164-bed hospital's bonds was based on a number of factors, including its strong balance sheet and liquidity position.

The hospital does face some challenges, which were considered for the rating affirmation, such as being a standalone community hospital in a highly competitive area and experiencing an unexpected operating loss in fiscal year 2014.

The revision of the hospital's outlook to negative "incorporates the operating loss incurred in FY 2014, which reflected a failure to meet budgeted expectations, and continued operating softness in FY 2015," according to Moody's.

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