S&P Global Ratings has lowered its rating on Elk City, Okla.-based Great Plains Regional Medical Center's series 2007 bonds to "BB-" from "BB."
"The downgrade reflects the hospital's weak interim 2016 financial performance and challenging service area demographics," said S&P analyst Patrick Zagar. S&P measured GPRMC posted a $6 million operating loss through the first 11 months of fiscal year 2016.
The outlook is negative, reflecting S&P's assessment of GPRMC's regional market challenges and history of operating losses.