Moody’s Investors Service downgraded to A3 from A2 Kettering Health Network’s $408 million of outstanding bonds.

The downgrade comes as the eight-hospital system is set to privately place $93 million of bonds with Bank of America Merrill Lynch, according to Moody’s. The outlook was revised to stable from negative at the lower rating.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.