Moody's Investors Service has downgraded Laurel, Miss.-based South Central Regional Medical Center's short-term rating from "MIG 1" to "MIG 3," affecting $58 million of hospital revenue notes.
The severity of the downgrade reflects significant delays which have elevated the hospital's risk of completing a construction project in time to secure a loan from the U.S. Department of Agriculture.
Short-term MIG ratings do not carry outlooks.