MetroHealth debt downgraded, outlook negative - Moody's

MetroHealth's financial future is a bit more cloudy, according to Moody's.

On the heels of an announcement that its chief executive would not return for another year, Moody's Investor Services changed a Cleveland health system's outlook to negative and downgraded its debt, the Cleveland Plain Dealer reports.

MetroHealth System's debt was downgraded from A3 to A2 late last week, the newspaper reports. Moody's cited CEO Mark Moran not renewing his contract, which expires in March, in its report, the newspaper reports.

Moody's also noted that MetroHealth treats an increasing number of Medicaid patients, sees smaller inpatient volume and needs to replace some older facilities, among others, as reasons for the downgrade, the newspaper reports.

Source: http://feedproxy.google.com/~r/vertical_61/~3/0rPh2vGcdCk/metrohealth-debt-downgraded-outlook.html

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