CENTENNIAL (S&P Global Ratings) July 16, 2019--S&P Global Ratings revised its outlook to negative from stable and affirmed its 'A-' long term rating on the Richmond Hospital Authority, Ind.'s $92 million series 2015A fixed-rate bonds, issued for Reid Hospital (doing business as Reid Health). "The outlook revision reflects inconsistent operating performance resulting in a large unbudgeted operating loss in fiscal 2018 that continues through first-quarter fiscal 2019, and the uncertainty surrounding the acquisition and integration of a nearby hospital that required additional debt," said S&P Global Ratings credit analyst Chloe Pickett. The rating reflects Reid's dominant market share, although it is in a comparatively limited primary service area; historically robust balance sheet with very high reserves; low average age of
