S&P Global Ratings downgraded Greensboro, N.C.-based Cone Health's series 2011A bond rating to "AA-" from "AA."
The downgrade is a result of the new nonprofit acute care healthcare organization rating criteria published March 19. The rating also reflects S&P's expectation that Cone Health will maintain its solid market position and will continue to expand its service access in favorable markets.
The outlook is stable, reflecting Cone Health's improving financial profile.