Downgraded bond rating points to University of Michigan Health System’s budget problems (Ann Arbor . com)

December 16, 2012 – The University of Michigan Health System’s complex set of budget problems has had an implication on its bond rating. At the end of November, Moody’s Investors Services downgraded the University of Michigan Hospital’s bond rating to Aa3 and Aa3. The downgraded bond rating announcement came about a week before top administrators at the University of Michigan Health System sent out an internal email to all their employees, instructing them that additional departmental budget cuts would have to be made.

Link to Full Article: http://annarbor.com/news/downgraded-bond-rating-points-to-university-of-michigan-health-systems-budget-problems/?cmpid=mlive-%40mlive-business-a2

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