Moody's Investors Service has downgraded the Hospital Authority of Valdosta and Lowndes County (GA) (d/b/a South Georgia Medical Center) revenue certificates to Ba3 from Baa3. The downgrade to Ba3 reflects our expectation that South Georgia Medical Center (SGMC) will show challenging financial performance over the near term following a material variance to budget in fiscal 2018 and a debt service coverage violation.