Moody's revises Milford Regional Medical Center's outlook to negative

Moody's Investors Service has affirmed the "Baa3" rating on Milford (Mass.) Regional Medical Center's $108 million of outstanding revenue bonds and revised the outlook to negative from stable.

The rating affirmation is based on multiple factors, including MRMC's relatively stable position as a community hospital.

The outlook revision reflects MRMC's deteriorating cash flow through nine months of fiscal year 2016, challenged operations and weakening debt service coverage.

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