Concurrently, S&P assigned its “A-” long-term rating to Huntington Memorial Hospital’s proposed $100 million series 2018 revenue bonds.
The affirmation and assignment are a result of Huntington Memorial Hospital’s favorable market and solid utilization trends.
The outlook was revised to negative.
“The negative outlook revision reflects our view of HMH’s continued and accelerating operating losses over the past several years, despite good utilization trends due to over staffing and expense pressures including one-time information technology expenses,” said S&P Global Ratings credit analyst Melanie Her.
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