Irving-based Christus Health Gets Good News From Moody’s As Its Good Shepherd Turnaround Continues
In early 2017, Christus Health System finalized a deal to bring Longview-based Good Shepherd Health System under its direction. Late last week, the Irving-based not-for-profit’s efforts to turnaround Good Shepherd were recognized by Moody’s Investor Service. Moody’s raised Good Shepherd’s bond rating by four notches, from Caa1 to Ba3. Under the new rating, Moody’s says the hospital’s bonds have speculative elements and are subject to substantial credit risk. The old rating had the bonds judged to be of poor standing and subject to very high credit risk. Why the change? Well, Moody’s is high on the new ownership from Christus,… Full Story