Moody's Investors Service affirmed the "Baa2" rating on Montgomery, Ala.-based Jackson Hospital and Clinic's revenue bonds issued through the Medical Clinic Board of the City of Montgomery, affecting $84 million of outstanding debt.
The affirmation is a result of several factors, including a stable market position despite fluctuations in operating performance, conservative debt structure and expiry of the system's defined benefit pension plan.
The outlook was revised to negative from stable, reflecting Moody's expectation the hospital's financial performance will continue to dip below historical trends.