Fitch Ratings has downgraded the rating on $63.6 million in series 2009A bonds issued on behalf of 259-bed All Children's Hospital in St Petersburg, Fla., to "AA-" from "AA."
The rating downgrade was driven by ACH becoming part of the obligated group of Baltimore-based Johns Hopkins Health System (rated "AA-"). The rating reflects the closing of the transaction.
Fitch predicts Johns Hopkins, an ACH corporate member, will maintain its current operating performance, which created a 3.7 percent operating margin and a 9.6 percent operating EBITDA margin in fiscal year 2014.