Fitch Ratings affirmed its "BBB-" rating on Trenton, Mo.-based Wright Memorial Hospital's series 2009 revenue bonds issued by the Grundy County Industrial Development Authority, affecting $26.2 million of debt.
The affirmation is attributable to several positive and negative factors, including the hospital's affiliation with Kansas City, Mo.-based Saint Luke's Health System, stable market position, lower than expected profit margins, stalled liquidity growth and risks involved with an operating agreement with St. Luke's that terminates prior to bond maturity.
The outlook is stable.