S&P revises Halifax Hospital Medical Center's outlook to negative over litigation risks

S&P Global Ratings affirmed its "A-" long-term rating on Daytona Beach, Fla.-based Halifax Hospital Medical Center's revenue bonds and revised the outlook to negative from stable.

The affirmation is a result of Halifax Health's healthy cash on hand and dominant market share in its primary service area.

The negative outlook is a result of two pending legal matters and the financial risks associated with the litigation. Halifax health is involved in lawsuits attempting to block the organization from building facilities outside its taxing district. The legal matter is heading to the Florida Supreme Court. A negative ruling could mean heavy legal expenses that strain operations or hinder Halifax's growth.

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