Fitch downgrades Reading Hospital's revenue bonds to 'A+'

Fitch Ratings has downgraded the rating to "A+" from "AA-" on West Reading, Pa.-based Reading Hospital and Medical Center's following bonds:

  • $160.1 million series A of 2012 fixed rate bonds
  • $91.8 million series B of 2012 floating-rate notes
  • $111.7 million series 2009A-3 fixed rate bonds

The downgrade is based on several factors, including three years of weak profitability.

The rating outlook is stable, reflecting Reading's solid underlying operations and liquidity position.

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