Moody’s Investors Service and Standard & Poor’s recently downgraded Elliot Hospital’s Series 2003B revenue bonds to the triple-B category due to declining liquidity and growing debt levels.
Moody’s on Tuesday downgraded the hospital to Baa1 from A3. The outlook is negative. Standard & Poor’s on Nov. 20 dropped the credit to BBB-plus from A-minus. The outlook is stable.