SAN FRANCISCO (S&P Global Ratings) Feb. 3, 2022--S&P Global Ratings lowered its long-term rating to 'BBB' from 'BBB+' on California Statewide Communities Development Authority's series 2018A tax-exempt revenue bonds and series 2018B taxable revenue bonds issued for Marin General Hospital (Marin or the hospital). The outlook is stable. "The downgrade reflects our view that Marin's financial metrics that are more in line with a lower rating due to its cumulative operating losses, increasingly weak liquidity position, and vulnerable debt profile," said S&P Global Ratings credit analyst Aamna Shah. The 'BBB' rating further incorporates our view of Marin's already weak financial position following a period of heightened capital spending and constrained cash flow and exacerbated by the pandemic's aftereffects on utilization
