Standard & Poor's Ratings Services has revised the outlook to negative from stable and affirmed the "A" long-term rating on Richmond, Ind.-based Reid Health's series 2015A fixed-rate bonds, affecting $91.99 million.
"The outlook revision reflects our assessment of Reid's weakened operating income levels in fiscal 2015 and location with limited population growth, requiring it to venture into surrounding areas to seek additional volume gains," said S&P credit analyst Kevin Holloran.
"The 'A' rating is supported by our assessment of Reid's strong regional business position as the only hospital in Wayne County, with a consistently solid market share of over 80 percent and strong unrestricted reserves, with limited capital needs as a result of Reid's new inpatient facility," Mr. Holloran added.