Moody's Investors Service affirmed its "A2" rating on Spartanburg (S.C.) Regional Healthcare System's outstanding rated revenue bonds, affecting $185 million of debt.
The affirmation is a result of several factors, including the health system's favorable market position, relative size and planned strategic roadmap to improve operations. Moody's also acknowledged the health system's weakened operating performance.
The outlook was revised to negative from stable, reflecting SCHS' unexpected downturn in operating performance, potential near-term debt issuance and period of high capital spending.