S&P Global Ratings downgraded its long-term rating on Greenville, Texas-based Hunt Memorial Hospital District's general obligation debt to "A-" from "A+."
The downgrade is a result of several factors, including the district's limited service area, thin operating margin and reliance on special funding and tax receipts. S&P also acknowledged the district's light debt burden, good market share and operating improvement efforts.
The outlook is stable at the lower rating, reflecting S&P's expectation that the operating improvement efforts and low debt levels will provide credit stability in the next several years.