Fitch Ratings has downgraded the rating on Raleigh, N.C.-based WakeMed Health System's following bonds to "A+" from "AA-":
- $283.3 million of series 2012A bonds
- $75 million of series 2009B bonds
- $66.8 million of series 2009C bonds
The rating downgrade is based on a number of factors, including WakeMed's negative operating margin in fiscal year 2015 and its location in a competitive service area.
The outlook has been revised to stable from negative.
More articles on healthcare finance:
5 latest hospital bankruptcies, closures
NYC budget includes $700M boost for public hospitals
Bipartisan health spending bill passes appropriations committee