Memorial Hospital Cut by Moody's.

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Author: Unknown

NEW YORK -- Moody's Investors Service said it has assigned an A3 rating with a stable outlook to Memorial Hospital's Series 2000 bonds to be issued through the City of Colorado Springs.

This rating assignment reflects a downgrade from A2 (underlying) affecting approximately $81.7 million of the outstanding Series 1995 bonds, which are insured by MBIA and rated Aaa.

Moody's said the rating downgrade is attributable to the organization's increased debt obligations coupled with a recent trend of operating decline, which stresses debt protection measures and weakens the organization's financial profile.