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.