S&P downgrades ProMedica's bond rating to 'A+'

S&P Global Ratings downgraded Toledo, Ohio-based ProMedica Healthcare's bonds to "A+" from "AA-."

The downgrade is a result of several factors, including ProMedica's high leverage, weaker operating performance and reduced liquidity metrics. S&P favorably viewed ProMedica's strong market position, solid unrestricted reserves and manageable debt burden.

The outlook is stable, reflecting ProMedica's strong business position and ongoing strategic investments.

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