The long-term ratings affirmation is based on several factors, including Providence St. Joseph’s Health’s large service area and leading market share position. The short-term ratings affirmation is based on the organization’s associated standby bond purchase agreements.
The outlook was revised to negative from stable, reflecting Moody’s Investors Service’s unfavorable opinion of the institution’s poorer-than-expected operating performance in fiscal year 2016 and continued poor performance through the first quarter of fiscal year 2017.
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