Manchester, N.H.-based Catholic Medical Center saw its credit rating downgraded to “Ba1 negative” from “Baa3 negative,” Moody’s said Aug. 25.
The system, anchored by a 330-bed acute care hospital specializing in cardiac care, has a “heavy reliance on contract labor” and suffers from inflationary and wage pressures, Moody’s said.
CMC reported operating revenue of $545.8 million in 2022. Its most recent days’ cash on hand figure is 98.