Intelligence Unit Special Reports Special Events Subscribe Sponsored Departments Follow Us

Twitter Facebook LinkedIn RSS

Cuts in aid drag down Boston Medical Center's debt rating

Boston Globe, January 27, 2010

Rating agency Standard & Poor's lowered the debt rating on Boston Medical Center as the financially troubled hospital posted an operating loss of $24.5 million for the 12 months ending Sept. 30, its first in five years. Standard & Poor's cited the Massachusetts state government's reduced support for Boston Medical Center in a statement accompanying the downgrade, and warned that a further cut in the debt rating was a possibility. Reductions in state and federal aid were also cited by the hospital in its fiscal 2009 financial report to regulators, the Boston Globe reports.