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Who's up and who's down

Down
University Health System of Eastern Carolina, Greenville, NC
Rating:
A1
Outlook: Negative
Affected debt: $534 million
Agency: Moody's Investors Service
Remarks: Outlook revised from stable because of the decline in absolute and relative liquidity measures to 96 days cash on hand, which is 21 days from the 75 cash on hand covenants in two letters of credit.

Down
Tomball Regional Hospital, Houston
Rating:
Baa3
Outlook: Negative
Affected debt: $122 million
Agency: Moody's Investors Service
Remarks: Outlook revised from stable due to a decline in operating performance coupled with a decline in liquidity and a proposed $9.6 million OIG settlement to be paid over four years.

Up
Carroll Hospital Center, Westminster, MD
Rating:
A3
Outlook: Stable
Affected debt: $124 million
Agency: Moody's Investors Service
Remarks: Upgraded from Baa1 to A3 thanks in part to a leading 55.6% market share in rapidly growing Carroll County, MD.

Down
MidMichigan Health, Midland, MI
Rating:
A1
Outlook: Stable
Affected debt: $142 million
Agency: Moody's Investors Service
Remarks: Outlook revised from positive to stable due to the system's intent to issue approximately $100 million in new debt over the coming year to support the system's ambitious capital spending plans.

Philip Betbeze

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