DALLAS - Denver's National Jewish Health has seen its rating from Fitch Ratings slip one notch to BBB from BBB-plus after reporting a $5.3 million operating loss amid a weakening balance sheet. The downgrade brings Fitch in line with Standard & Poor's on the nonprofit's $44.9 million of debt.

In fiscal year 2008 which ended June 30, NJH, which operates National Jewish Hospital, reported that unrestricted cash had fallen to $34.2 million from $46.4 million in the previous fiscal year. Days cash on hand dropped from 136.7 to 83.6, and the ratio of revenues to debt service fell from 13.7 times debt service to 10.1.

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