Moody's cuts Marquette Hospital, Mich., to Baa3

Moody's Investors Service said it downgraded to Baa3 from Baa1 the ratings on Marquette General Hospital's bonds issued through the Michigan State Hospital Finance Authority, affecting about $65 million of debt..

The outlook remains negative.

Moody's said the downgrade was made in connection with the hospital's plan to convert its $37 million of series 2006 bonds to weekly rate variable-rate demand obligations from auction-rate securities on April 16.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.