Moody’s Investors Service downgraded Lakewood Hospital Association to A2 and assigned a negative outlook due to admission declines and operating losses.

The action affects $20 million of bonds sold in 2003 through the city of Lakewood, located outside Cleveland. “The negative outlook is driven by challenges to reversing volume losses and improving operating performance, and increasing capital plans and pension funding requirements,” analysts wrote.

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.