The downgraded bonds include:
- $222.5 million of series 2009B limited tax bonds
- $457.7 million of series 2009C limited tax bonds
- $38.3 million of series 2013 limited tax bonds
The ratings agency also removed the hospital district from ratings watch evolving.
The ratings affirmation is based on a variety of factors, including its diverse economic base, its role as an essential service provider and its weak payer mix.
The outlook is negative.
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13 recent hospital outlook and credit rating actions
S&P affirms ‘CCC’ rating on Verity Health System’s bonds, revises outlook to positive
Fitch assigns ‘AA’ rating to Seattle Children’s Hospital’s bonds
