S&P Global Ratings affirmed its "BBB-" long-term rating and underlying rating on bonds issued on behalf of Chicago-based Presence Health Network by the Illinois Finance Authority.
The system's outlook is negative. "The outlook reflects our view of Presence Health's continued operating losses in fiscal 2016 coupled with a weaker balance sheet that has limited room for losses at the levels seen in fiscal 2015 and interim 2016," said S&P.
In 2015, Presence Health reported an operating loss of about $186 million, nearly 15 times the amount reported in the previous year.
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