S&P Global Ratings lowered the rating to "A" from "A+" on Houma, La.-based Terrebonne Parish Hospital Service District's series 2010 and series 2013 bonds.
"The lowered rating reflects our understanding that during August 2016, Terrebonne issued $20 million of direct placement debt," said S&P analyst Melanie Her. "The issuance of this debt impacted our view of Terrebonne's previous positive override for high unrestricted reserves as it relates to long-term debt."
The outlook is stable.
More articles on healthcare finance:
UMass Memorial points to Epic implementation for drop in operating income
20 health conditions people spent most on in 2013 — and what the bulk of their money went toward
5 most-read finance stories: Week of Dec. 19-23