S&P downgrades Crawford Memorial Hospital's rating to 'BBB'

S&P Global Ratings downgraded Robinson, Ill.-based Crawford Memorial Hospital's long-term and underlying rating to "BBB" from "A."

The downgrade is a result of S&P's updated rating criteria, which place more emphasis on both enterprise and financial attributes that affect ratings.

The agency also reflects the hospital's historically strong operating margins, its solid tax support, stable unrestricted reserves and relatively strong cash to long-term debt ratios.

The outlook is stable, reflecting S&P's expectation that the hospital will bounce back from the one-time losses in fiscal year 2017.

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