Moody's Investors Service affirmed its "Baa2" rating on Lancaster, Ohio-based Fairfield Medical Center's outstanding rated bonds issued by the County of Fairfield Ohio, affecting $92.8 million of outstanding debt.
The affirmation is a result of several positive and negative factors, including the medical center's strong market position, favorable debt structure, unfavorable operating performance, heavy reliance on government payers, small size and weak liquidity metrics.
The outlook was revised to negative from stable, reflecting Moody's expectation that the medical center's operating performance, liquidity metrics and debt coverage will remain soft compared to peers.