S&P Global Ratings downgraded Ashland, Ky.-based King's Daughters Medical Center's rating to "BBB-" from "BBB."
"The downgrade reflects our view of KDMC's negative operating performance. The organization did not meet our expectations from our most recent review, resulting in further operating losses, depletion in liquidity and some uncertainty about the organization's ability to achieve its projections for fiscal 2018," said Kelsey Thomas, an S&P Global Ratings credit analyst.
The outlook is stable, reflecting S&P's opinion that KDMC's increasing volume growth may help improve operating performance.