Fitch Ratings on Friday revised the rating outlook on bonds issued for the Forrest County General Hospital to negative from stable, and affirmed the A rating. The action affects $70 million of 2010 revenue bonds and $43.3 million of 2009 bonds issued on behalf of the hospital by the Mississippi Hospital Equipment and Facilities Authority.

“The outlook revision to negative reflects Forrest Health’s elevated debt burden and pressured profitability,” said Fitch analyst Michael Borgani. “Though liquidity remains good for the rating category, leverage metrics worsened due to new borrowings, and profitability fell markedly below historical norms.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.