Moody's lowers Memorial Health University Medical, Ga., to Baa2

Moody's Investors Service said it downgraded Memorial Health University Medical Center's long-term and underlying ratings to Baa2 from Baa1. The outlook remains negative.

The outstanding bonds, which are issued by the Chatham County Hospital Authority, Ga., include $113.3 million of series 1996 hospital revenue bonds, $44.6 million of series 2001A hospital revenue bonds and $50 million of series 2004 hospital revenue bonds.

Moody's said the series 1996 bonds have an Aaa rating based on insurance with Ambac. Ambac's Aaa rating is also on negative watch.

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