Moody's Investors Service on Tuesday downgraded West Penn Allegheny Health System's bond rating to Ca from Caa1, affecting $726 million of Series 2007 fixed rate bonds issued through the Allegheny County Hospital Development Authority. The outlook remains negative.

Moody's on Sept. 28 had placed the Pittsburgh health provider's rating on review for possible downgrade, after it announced the termination of its agreement with Blue Cross Blue Shield provider Highmark Inc., also of Pittsburgh.

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