Fitch downgrades Owensboro Health's debt to 'BBB'

Fitch Ratings downgraded the rating on Owensboro (Ky.) Health's $575.7 million in outstanding debt to "BBB" from "BBB+."

The ratings agency also assigned a "BBB" rating to the health system's $448.3 million of series 2017A hospital revenue refunding bonds and $38.4 million of series 2017B hospital revenue refunding bonds.

The ratings downgrade is based on a variety of factors, including the health system's weak balance sheet and modest liquidity position.

The outlook was revised to stable from negative.

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