The ratings watch change is a result of MRMC’s inability to find enough savings to offset the loss of its supplemental payments, combined with the continued losses the medical center experienced during the third quarter of 2016.
The ratings agency also affirmed the “CCC” rating on MRMC’s $20.325 million of combined series 2005, 2007 and 2008 bonds.
The outlook is negative, reflecting S&P’s expectation MRMC will continue to see weak operating income levels in FY 2016.
More articles on healthcare finance:
Moody’s assigns ‘Baa1’ to Community Hospitals of Central California’s bonds
Fitch affirms ‘A-‘ rating on Butler Health System’s bonds
Moody’s downgrades Charleston Area Medical Center’s rating to ‘Baa1’
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
