Fitch downgraded Marshall, Mo.-based John Fitzgibbon Memorial Hospital’s ratings to “D” from “C” and withdrew the hospital’s issuer and bond ratings following a payment default, the ratings agency said Feb. 13.
The downgrades stem from the hospital’s failure to make required debt payments, according to the report. Following a Feb. 11 notice of continuing default from the bond trustee, the hospital did not provide funds needed to cover principal and interest payments on its 2010 bonds. The default remains unresolved, and no waiver or cure has been granted. Funds in the debt service reserve account are being preserved by the trustee to protect bondholders’ interests.
John Fitzgibbon Memorial Hospital is a 60-licensed-bed hospital and also operates a 99-bed skilled nursing facility and several rural health clinics. The hospital reported total revenue of $66.9 million in fiscal 2025, according to the report.
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