Moody's downgrades Boone Hospital Center's bond rating

Moody's Investors Service has downgraded the rating on 397-bed Boone Hospital Center's $91.9 million of fixed-rate revenue bonds to "Baa1" from "A3."

Simultaneously, Moody's assigned a "Baa1" rating to the Columbia, Mo.-based hospital's $77.2 million of series 2016 fixed-rate revenue bonds to be issued through Boone County, Mo.

Moody's said the "Baa1" rating reflects an unexpected decline in the hospital's financial performance in fiscal year 2015. However, Boone Hospital Center's long history of better financial performance indicates that its future performance can improve, according to Moody's.

The hospital's outlook is stable.

More articles on healthcare finance:

Majority of healthcare executives expect finances to suffer in move to value-based contracts
Fort Worth hospital to close, 152 to lose jobs
Service cuts, layoffs may not be enough to save Oklahoma hospital, says CFO

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars