MaineGeneral Medical Center’s $281 million in debt was cut to speculative grade by Moody’s Investors Service, which cited weakening cash flow and slower revenue growth due to Medicare and Medicaid cuts.

Moody’s cut the rating to Ba1 from the investment-grade Baa3 and switched its outlook to negative from neutral in a report Thursday. Much of the expected downturn in performance is being attributed to costs associated with a new hospital, Moody’s analysts wrote.

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