Fitch downgrades Tulare Regional Medical Center's bonds to 'CC'

Fitch Ratings downgraded Tulare (Calif.) Regional Medical Center's issuer default rating and series 2007 fixed rate bonds from "B" to "CC," affecting $13.7 million of debt.

In addition, Fitch maintains its negative rating watch on the bonds and issuer default rating.

The downgrade is a result of TRMC's inability to restore liquidity and political instability in its governing board.

The negative rating watch reflects S&P's unfavorable opinion regarding the fractured governance of TRMC.

 

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