S&P Global Ratings revised Coalinga (Calif.) Regional Medical Center's outlook to stable from negative.
"The stable outlook reflects our understanding that in the spring of 2016, the Department of Health Care Services…indicated that they would no longer pursue recoupment of the MediCal 'clawback,'" said S&P analyst Melanie Her. "As a result, the district no longer has to repay $5 million in MediCal funds associated with the recoupment. The rating further reflects our view of CRMC's second consecutive fiscal year of positive excess margins following years of operating losses."
The ratings agency also affirmed the "B-" long term rating on the medical center's series 2008A certificates of participation and subordinate series 2008B certificates of participation.