Moody's Investors Service has downgraded to "Baa2" from "Baa1" the underlying rating on Boynton Beach, Fla.-based Bethesda Health's series 2010A fixed rate bonds, affecting approximately $125 million of rated debt.
The downgrade is based on several factors, including Bethesda's multiple years of challenged operating performance.
The outlook is negative, reflecting Bethesda's ongoing challenges regarding operating performance and operating leverage.