Moody's Investors Service affirmed its 'Baa3' on Yakima (Wash.) Valley Memorial Hospital's revenue bonds, affecting $31 million of rated debt.
The affirmation is a result of YVMH's dominant market position. Moody's also acknowledged the hospital's unfavorable payer mix, modest liquidity position and unstable operating performance.
The outlook was revised to negative from stable, reflecting the hospital's weaker operating performance through the third quarter of fiscal year 2017.