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.