S&P lowers Huntington Memorial Hospital’s rating to ‘A-‘

S&P Global Ratings lowered the rating on Pasadena, Calif.-based Huntington Memorial Hospital’s $232 million of series 2005, 2014A and 2014B bonds to “A-” from “A.”

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“The downgrade reflects persistently high operating losses, which exceed budgeted expectations and have in turn resulted in thin debt service coverage for the rating level,” said S&P analyst Cynthia Keller.

The outlook is stable, reflecting S&P’s view of HMH’s strong business position and solid balance sheet.

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