Fitch Ratings downgraded Stamford (Conn.) Health's outstanding debt rating to "BBB+" from "A."
Concurrently, Fitch assigned its "BBB+" issuer default rating to Stamford Health.
The downgrade and assignment are a result of several factors, including the health system's weakened operating performance in fiscal year 2017, unfavorable leverage ratio and soft liquidity metrics. Fitch also acknowledged Stamford Health's dominant market share and favorable payer mix.
The outlook is stable.