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.
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