S&P Global Ratings revised Denver Health and Hospital Authority's outlook to negative from stable.
"The outlook revision to negative reflects sharply weaker fiscal 2016 year-to-date performance through the nine-month unaudited period ended Sept. 30, 2016, combined with a meaningful decline in unrestricted reserves," said S&P analyst Martin Arrick.
S&P also affirmed the "BBB" rating on DHHA's series 2007A, 2007B, 2009A, 2010, 2014A and 2014B bonds. The rating affirmation reflects S&P's view of DHHA's strong enterprise profile and adequate financial profile.