S&P downgrades St. John's Riverside Hospital's rating 3 notches to 'B-', maintains negative outlook

S&P Global Ratings downgraded Yonkers, N.Y.-based St. John's Riverside Hospital's rating three notches to "B-" from "BB-."

The downgrade is a result of several factors, including St. John’s mounting operational challenges, multiyear operating losses, weak liquidity metrics, weak debt coverage and high leverage.

The outlook is negative, reflecting the hospital's operating challenges.

In March, the hospital sought to partner with several major healthcare systems. S&P did not acknowledge the requests in its rating.

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