Friday, July 13, 2012

JSMC credit rating downgraded

Fitch Ratings, one of the three major credit rating agencies in the U.S., downgraded Jennie Stuart Medical Center's rating from BBB+ to BBB. Fitch's analysts cited declines in inpatient the hospital was rendering, a small revenue base, and a large debt load.
The downgrade apparently won't affect the hospital's finances for now. But if it needs to borrow money in the near future, this rating could lead to higher interest rates.
In addition to the story in Friday's paper, the analysts' report is available here as a PDF.

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