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Credit-Rating Agency Downgrades Cone Health

8:15 PM, Nov 14, 2013   |    comments
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GREENSBORO, N.C. -- Standard and Poor's Rating Services has downgraded its outlook for Moses Cone Memorial Hospital from stable to negative.

The negative outlook comes from the credit-rating agency's view that Cone Health's operating performance is deteriorating, according to a statement Standard And Poor sent to WFMY News 2.

The credit-rating agency also affirmed Cone Health's AA rating, which is above the national average in healthcare. Bond ratings measure financial performance and AA is considered one of the highest ratings.  

In a statement from Jeff Jones, Executive Vice President of Cone Health, says "he is disappointed by the negative outlook but emphasizes there is no cause for alarm.  He tells WFMY News 2 he is confident about a plan Cone Health has in place with the correct measures in place to meet the future healthcare needs of the community."

WFMY News 2

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