Moody's revises Mercy Hospital's outlook to negative

Moody's Investors Service has revised Iowa City, Iowa-based Mercy Hospital's outlook to negative from stable and affirmed its "Baa2" rating, affecting approximately $76 million of outstanding revenue bonds.

The outlook revision is based on several factors, including Mercy's unstable budget throughout the first nine months of fiscal year 2016.

The rating affirmation reflects Mercy's maintenance of a strong cash position relative to expenses and debt.

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