Additionally, S&P affirmed the “BBB” rating on Eastern Maine Healthcare System’s series 2016B bonds, affecting $79.5 million of debt.
The outlook was revised to negative from stable, reflecting S&P’s uncertainty regarding EMHS’ ability to reverse its historically weaker operating performance.
“The negative outlook reflects challenged underlying operating performance at several EMHS hospitals including its flagship, Eastern Maine Medical Center and multi-yearsystem performance, which has been below expectations,” said Cynthia Keller, an S&P Global Ratings credit analyst.
S&P also acknowledged the health system’s positive year-to-date operating and net earnings.
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