Moody's affirms 'Ba2' rating on Community Memorial Health System

Moody's Investors Service affirmed the "Ba2" rating on Ventura, Calif.-based Community Memorial Health System, affecting $345 million in revenue bonds.

 

The rating affirmation is based on a number of factors, including the health system's strong market position, experienced management team, stable operating performance and variety of clinical offerings.

The outlook was revised to negative, reflecting Moody's expectation that the health system will perform poorly in fiscal year 2017 because of declining liquidity reserves and failure to meet its debt service coverage covenant.

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