Fitch downgrades Care New England's bond rating to 'BBB-'

Fitch Ratings has downgraded the rating on Providence, R.I.-based Care New England's $82.2 million of series 2013A bonds to "BBB-" from "BBB."

The downgrade is based on numerous factors, including Care New England's weakened financial profile.

Fitch also assigned a 'BBB-" rating to Care New England's $159 million of series 2016B and 2016C bonds.

The outlook is negative.

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