News In Brief: Loyola Univ. Health System Cut

NEW YORK - Moody's Investors Service said it downgraded the bond rating for the Loyola University Health System in Illinois to Baa1 from A3, affecting approximately $283 million of debt.

The Baa1 rating carries a stable outlook, Moody's said.

Moody's said the downgrade is based on a longer-term trend of stable, but below-average, operating margins, the agency's belief that future financial pressures will make it difficult to improve upon current performance, modest unrestricted cash, and higher debt levels relative to similarly rated health care organizations.

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