Moody's downgrades Houston Healthcare's rating to 'Baa3'

Moody's Investors Service has downgraded Robins, Ga.-based Houston Healthcare from "Baa1" to "Baa3," affecting $72 million of rated debt.

The downgrade reflects Houston Healthcare's heavy reliance on investment income to meet debt service covenant requirement, which will continue until expense strategies yield better results.

The rating outlook remains negative.

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