...December 12, 2024 CHICAGO (S&P Global Ratings) Dec. 12, 2024--S&P Global Ratings revised the outlook to negative from stable and affirmed its '###+' long-term rating on the Richmond Hospital Authority, Ind.'s series 2022, 2016B, and 2015A fixed-rate bonds issued for Reid Hospital (doing business as Reid Health). "The outlook revision reflects larger-than-budgeted operating losses in fiscal 2023 and year-to-date fiscal 2024 that, while improving, are not aligned with our expectation for a '###+' rating," said S&P Global Ratings credit analyst Marc Arcas. "The rating reflects our view of Reid's sound balance sheet metrics, particularly days' cash on hand (DCOH), which is materially above that of similarly rated peers," he added. The negative outlook reflects our view that there is limited cushion at the current rating should the multiyear trend of large operating losses continue. Although we believe that balance sheet strength currently provides some cushion to maintain the rating at present,...