S&P Global Ratings lowered the rating to "A-" from "A" on Richmond (Ind.) Hospital Association's $90.2 million series 2015A fixed rate bonds issued on behalf of Richmond, Ind.-based Reid Health.
"We assessed Reid's enterprise profile as adequate, characterized by a dominant market share, although it is in a comparatively limited primary service area, and its financial profile as strong with very high reserves, low average age of plant, and still sufficient debt service coverage," said S&P analyst Kevin Holloran.
The outlook is stable.