Moody's Investors Service downgraded Monroe (Wis.) Clinic's series 2016 revenue refunding bonds from "A3" to "Baa1," affecting $41 million of debt.
The downgrade is a result of several factors, including the clinic's weak operating performance, increased capital spending and physician turnover rates. Moody's also acknowledged the hospital's strong market position, favorable liquidity metrics and light debt burden.
The outlook is stable, reflecting Moody's expectation that Monroe Clinic will keep its leading market position and liquidity measures intact.