Fitch Ratings has downgraded approximately $97.1 million of series 2007A revenue bonds issued on behalf of Mississippi Baptist Health System in
The rating downgrade reflects MBHS's profitability deterioration in fiscal year 2013 and through April 30 of this year. MBHS's operating margin fell to negative 5.4 percent in 2013 largely due to lower Medicaid reimbursement and the implementation of a new IT system.
MBHS is implementing a number of revenue cycle initiatives in 2014. As a result, MBHS expects to end fiscal year 2014 better than 2013 and return to breakeven profitability in 2015.
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