Moody's Investors Service affirmed its "Aa3" rating on University of Chicago Medical Center, and also revised its outlook to negative from stable.
The affirmation is a result of several factors, including the medical center's close alignment with University of Chicago, reputation as an academic medical center and a planned outpatient expansion into different areas of the community. Moody's also acknowledged the medical center's increasingly competitive market and financial pressures resulting from its integration of Harvey, Ill.-based Ingalls Health System, which it recently merged with.
The negative outlook reflects Moody's expectation that University of Chicago Medical Center will face ongoing margin pressures in its increasingly competitive market.