Fitch downgrades Spartanburg Regional Health Services District to 'BBB'

Fitch Ratings downgraded Spartanburg (S.C.) Regional Health Services District to "BBB" from "A," affecting $123.8 million of debt.

The downgrade is a result of the district's weaker net leverage profile, which is characterized by its $904.8 million net pension liability.

Fitch favorably viewed the district's leading market position, solid payer mix and ongoing construction project, which is expected to add top-line revenue and grow patient volume upon completion.

The outlook is stable at the lower rating.

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