Moody's downgrades Fremont-Rideout Health Group's rating to 'Baa2'

Moody's Investors Service has downgraded Marysville, Calif.-based Fremont-Rideout Health Group's revenue bond rating to "Baa2" from "A3," affecting approximately $112 million of debt.

The downgrade is based on several factors, including a material drop in operating performance in fiscal year 2015 and a material drop in days cash on hand.

The outlook is negative, reflecting FRHG's ongoing challenges regarding operating performance and the expectation that days cash on hand will continue to drop.

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