...April 21, 2020 SAN FRANCISCO (S&P Global Ratings) April 21, 2020--S&P Global Ratings revised the outlooks to negative from stable and affirmed its ratings on certain U.S. not-for-profit health care organizations due to the heightened risks associated with the financial toll caused by the COVID-19 pandemic and related recession (see table 1). For the same reasons, we revised the outlooks to stable from positive and affirmed the ratings on certain U.S. not-for-profit health care organizations (see table 2). The health care organizations affected by these actions include those with speculative-grade ratings ('##+' and lower) or those entities whose unrestricted reserves are in our view limited (approximately 100 days' cash on hand or less). A negative outlook reflects our view that there is at least a one-in-three chance that operating and economic conditions worsen to a degree that affects the organization's ability to maintain credit characteristics in line with the current rating level....
