Fitch Ratings revised Baltimore-based University of Maryland Medical System's outlook to negative from stable.
Fitch also assigned an "A" rating to UMMS' $151 million of series 2017B bonds and $122.4 million of series 2017C bonds.
The rating assignment is based on a variety of factors, including UMMS' weak liquidity, growing regional footprint and potential acquisition of Cheverly, Md.-based Dimensions Healthcare System.
More hospital outlook and credit rating actions:
Fitch assigns 'A+' rating to Southern Illinois Healthcare Enterprises' bonds
S&P assigns 'A-' rating to University of Maryland Medical System's bonds
S&P assigns 'AA-' rating to the Broad Institute's bonds