Fitch Ratings downgraded Hopkinsville, Ky.-based Jennie Stuart Medical Center's bonds to "BB+" from "BBB-," affecting $62.9 million of debt.
The downgrade is a result of the medical center's continued financial challenges and compressed margins despite sufficient cash. Fitch also acknowledged the medical center's strong liquidity position, dominant market position and strategic reinvestment.
The outlook was revised to stable from negative.