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DELAWARE HEALTH FACILITIES AUTHORITY - Moody's Research Report

Moody's places Beebe Medical Center's (DE) Ba3 bond rating under review, direction uncertain

Posted on: August 7, 2012, 6:35 pm

NEW YORK, August 07, 2012 --Moody's Investors Service has placed Beebe Medical Center's Ba3 bond rating on review with direction uncertain. The outstanding bonds have exposure to a pending large class action lawsuit against the hospital for negligence to report a former pediatrician convicted of sexually abusing patients and ongoing settlement negotiations with several insurance carriers over whether insurance policies cover litigants claims. The rating under review direction uncertain is based upon the possibility the bond rating could be upgraded or downgraded depending on the final executed settlement terms and total financial exposure to Beebe...

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