Additionally, S&P assigned its “BBB” rating to Faith Regional Health Services’ $29.5 million series 2017A-1 revenue bonds.
“In our view, the ‘BBB’ rating reflects the trend of declining operating performance from 2015 levels and some uncertainty about proposed capital plans that may require additional debt,” said Wendy Towber, an S&P Global Rating’s analyst.
S&P revised the outlook to stable from positive based on the system’s weaker operating performance and lower debt service coverage than in fiscal year 2015.
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