Moody's places Ingalls Health System's 'Baa1' rating on review for downgrade

Moody's Investors Service has placed Harvey, Ill.-based Ingalls Health System's "Baa1" rating on review for downgrade.

The action affects $62 million of debt issued through the Illinois Finance Authority.

It is based on Ingalls Health System's multi-year decline in operating revenue as a result of increased competition, decreasing volumes and a challenging service area with a high reliance on Medicaid reimbursement.

The review for downgrade will focus on Ingalls Health System's proposed affiliation with the University of Chicago Medical Center.

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