Jupiter (Fla.) Medical Center had its outlook revised to stable from positive as it continues to have low cash reserves caused by ongoing operational issues and investment losses, S&P Global said April 27.
"The stable outlook reflects our view that JMC will rebuild unrestricted reserves over the outlook period and narrow operating losses given operational improvement plans and lower reliance on agency staff," the research note said.
The agency also affirmed its "BBB-" rating on a series of Jupiter Medical Center bonds.
In June 2022, Fitch lowered the hospital's ratings from "BBB+" to "BBB."