Moody's downgrades rating for King's Daughters' Medical Center to 'Baa3'

Moody's Investors Service downgraded Ashland , Ky.-based King's Daughters' Medical Center's revenue bond rating to "Baa3" from "Baa2," affecting $177 million of rated debt.

The rating reflects lower-than-expected financial results in fiscal year 2017 and a 2018 performance that continues to be below budget, a trend  Moody's expects will continue. The hospital's margins will be pressured by physician staffing and expense challenges.

The rating outlook remains negative.

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