Could Drake Hospital Sale Lead To Credit Downgrade?

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Hamilton County‘s sale of Drake Hospital to UC Health could possibly lead to service cuts, layoffs, and higher costs for major county projects. The county has now been put on warning give us some answers fast, or your bond rating could be downgraded. If that happens, it would cost the county more to borrow money for things like fixing the leaky sewer line in your neighborhood.

Last week, County Commissioners Chris Monzel and Todd Portune voted to sell Drake Hospital to UC health for 15 million dollars. The money would prevent the stadium fund from going broke for one year and cover a full property tax rollback for that same time period. But Moody’s Investors Service is warning the county that a short-term solution may be no solution at all.

To hear more about this story, go to local12.com or check out the video below.

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