Roseville, Calif.-based Adventist Health, a 26-hospital system, said it received recent bond downgrades from two agencies, according to an Oct. 23 filing.
While Fitch Ratings downgraded a 2009-dated bond series long-term from "AA+" to "AA," the agency also downgraded its short-term rating for the bonds. S&P Global maintained its long-term rating for two separate Adventist bond series at "AA-" but downgraded the short-term grade.
The rating changes resulted from a downgrade of U.S. Bank by the two agencies. U.S. Bank is a letter of credit provider to Adventist Health.