Standard & Poor’s said it lowered its long-term and underlying ratings on Erie County, Pa., Hospital Authority revenue bonds issued for the Hamot Health Foundation to BBB-plus from A-minus due to soft operating performance and weak liquidity.

The rating agency also downgraded the authority’s Series 2008 bonds to AA-plus/A-1 from AAA/A-1. The AA-plus/A-1 rating is based on the application of joint criteria using medium correlation.

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