Fitch downgrades Adventist HealthCare to 'BB+'

Fitch Ratings downgraded Gaithersburg, Md.-based Adventist HealthCare's bond rating to "BB+" from "BBB-."

Concurrently, Fitch assigned its "BB+" issuer default rating to Adventist.

The downgrade and assignment is a result of Adventist's heavy debt burden and highly leveraged financial profile. Fitch favorably viewed the health system's good payer mix and solid operating margins.

The outlook is stable.

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