Moody's Drops Detroit Medical Center's Rating to Ba3

Carvlin, Elizabeth
July 2003
Bond Buyer;7/1/2003, Vol. 345 Issue 31668, p4
Trade Publication
Reports that the U.S.-based rating agency Moody's Investors Service Inc. has downgraded the rating of Detroit, Michigan-based Detroit Medical Center Inc. (DMC), following the release of the 2002 audited financial statements of DMC, as of July 1, 2003. Factors that led to downgradation of ratings; Impact of downgraded ratings on Medicaid costs of DMC; Proposed solutions of DMC to improve the rate coverage covenant on its outstanding bonds.


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