Standard & Poor's Ratings Services has lowered its underlying rating to "BBB-" from "BBB+" on East Liverpool, Ohio's $9.7 million series 1998A and 1998B bonds issued on behalf of East Liverpool City Hospital.
"The rating action reflects our view of deteriorations in ELCH's financial profile, driven in large part by increasingly weak operations," said Allison Bretz, an S&P credit analyst.
The hospital's outlook is negative.
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