Moody's Investors Service downgraded the rating on Houma, La.-based Terrebonne General Medical Center's bonds to "A3" from "A2," affecting approximately $49 million of debt.
The downgrade is based on a number of factors, including TGMC's weaker operating performance, continued volume decline and increase in leverage.
TGMC also has several strengths, including its strong liquidity measures and favorable market position in its primary service area.
The outlook is stable, reflecting TGMC's strong balance sheet and favorable debt service coverage.