Fitch Ratings downgraded Tulare (Calif.) Regional Medical Center's series 2007 revenue bonds to "B" from "BB-," affecting $13.7 million of debt.
Additionally, Fitch maintained Tulare Regional Medical Center's Rating Watch Negative.
The downgrade is a result of several factors, including the medical center's weak liquidity measures, heavy debt burden and delayed expansion project. Fitch also acknowledged TRMC's solid cost management that could lead to favorable profitability.