Moody's Investors Service affirmed its "Baa2" rating for Harvey, Ill.-based Ingalls Health System.
Ingalls' operating performance was below budget in fiscal year 2018 due to material one-time write-offs and weak volume trends, though Moody's affirmation of the rating heavily incorporates Ingalls' close affiliation with University of Chicago Medicine.
The rating outlook has been revised from stable to negative.