“The outlook revision reflects our view of the hospital’s weaker financial performance through the first nine months of fiscal 2016 and its balance sheet metrics, many of which are already below rating medians,” said S&P analyst Allison Bretz.
S&P also affirmed its “BBB” long-term and underlying rating on Doylestown Hospital’s $26.6 million of series 2013A bonds and its “BBB” long-term rating on the hospital’s $38.2 million of series 2008A bonds.
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