Norman Regional Hospital's revenue bonds have been downgraded due to a "precipitous decline in liquidity" following the resignation of its CEO and on the heels of a major facility upgrade. Moody's Ratings has downgraded Norman Regional Hospital Authority's revenue bonds rating from Ba1, or "stable," to B1, "significant credit risk," according to a release from the firm. The assessment from Moody's suggests Norman Regional's income is not sufficient to meet its cash flow needs. "The downgrade of NRH's rating to B1 reflects a material and precipitous decline in liquidity well in excess of projections at the time of our most recent review," Moody's says. "Heavy reliance on a short-term line of credit, which is currently fully drawn, ongoing cash flow losses, and challenges with the master facility project have also contributed to the downgrade."
