Fitch Ratings maintained the Rating Watch Negative on Danbury-based Western Connecticut Health Network's series M and series N revenue bonds, affecting a total of $81.5 million of debt.
The negative watch is a result of the health network's heightened risk under Fitch's revised rating criteria and its weakened operating performance. Fitch also acknowledged the health system's light debt burden, favorable market position and solid liquidity measures.
The rating watch will be resolved within six months, following full credit review under the new criteria.