DALLAS — Standard & Poor's assigned a negative outlook to its non-investment-grade rating of B-plus on the formerly bankrupt Gerald Champion Regional Medical Center in Alamogordo, N.M.

"The negative outlook reflects our view of the medical center's worse-than-budgeted operating loss year-to-date through Sept. 30 and the potential negative effect on debt service coverage," wrote S&P analyst Karl Probst.

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