S&P Global Ratings downgraded Knoxville, Tenn.-based University Health System's rating to "BBB" from "BBB+."
"The lowered rating reflects our view of UHS' mounting operational challenges, deterioration of its balance sheet metrics, and thin cash on hand," said Aamna Shah, an S&P Global Ratings credit analyst. "We anticipate that UHS' operating performance will remain constrained at least through fiscal 2018," Ms. Shah added.
The outlook is stable.