Fitch Ratings downgraded the rating on Owensboro (Ky.) Health's $575.7 million in outstanding debt to "BBB" from "BBB+."
The ratings agency also assigned a "BBB" rating to the health system's $448.3 million of series 2017A hospital revenue refunding bonds and $38.4 million of series 2017B hospital revenue refunding bonds.
The ratings downgrade is based on a variety of factors, including the health system's weak balance sheet and modest liquidity position.
The outlook was revised to stable from negative.