Standard & Poor's Ratings Services has revised its outlook to negative from stable on Manning, S.C.-based Clarendon Hospital District's series 2011A general obligation bonds.
"We revised the outlook to negative due to a deterioration in financial performance in fiscal 2015 — based on unaudited numbers — and uncertainty about recovery in fiscal 2016," said S&P analyst Jennifer Soule.
If Clarendon achieves its financial performance target for fiscal 2016, S&P would consider returning its outlook to stable.
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