News

Second Finance Agency Downgrades MaineGeneral Credit Rating

Second Finance Agency Downgrades MaineGeneral Credit Rating

Photo: 560 WGAN Newsradio


AUGUSTA, Maine (AP) A second agency has lowered MaineGeneral Medical Center’s credit rating after the loss of several primary care doctors last year.

The recent credit downgrade came from Moody’s Investor’s Service as Fitch Ratings made a similar downgrade last spring. The Kennebec Journal reports MaineGeneral’s parent organization took a $22.9 million operating loss the last fiscal year, in part because of the departure of doctors hindering their ability to accept new patients.

Hospital executives say they are working to improve finances by recruiting new primary care providers and making changes to appeal to current staff.

Chief Financial Officer Terry Brann says losses in the first half of this year can be made up for in the second half, which is typically a busier time of year.

Latest Headlines

33 minutes ago in Local

New Hampshire Man Dead in I-95 Crash in Newport

Fresh

Maine State Police say they were on their way to assist a stopped car in the travel lane of I-95.

50 minutes ago in Local

Bangor Savings Bank Program Provides Support to Communities Through Donations

Fresh

The public votes on the recipients through an online ballot, with the top vote-getters in each region receiving $5,000 grants.

12 hours ago in Local

Maine Legislature Passes Bill to Study Costs of Climate Change

The bill passed mostly on party lines this week

13 hours ago in Local

Judge Gives DOJ Access to Maine Sports Rosters, But Not List of Transgender Athletes

The judge questioned the motivation of the federal request for information on transgender athletes.

17 hours ago in Local

Motorcyclist killed in 3-vehicle crash in Raymond

A motorcyclist was killed in a three-vehicle in crash in Raymond on Monday evening.