CENTENNIAL (S&P Global Ratings) June 21, 2019--S&P Global Ratings lowered to 'BBB+' from 'A-' its long-term rating on Farmington, N.M.'s series 2007A and 2007B bonds, issued for San Juan Regional Medical Center (SJRMC), and its issuer credit rating (ICR) on SJRMC. The outlook is negative. The ICR reflects our opinion of the issuer's overall capacity and willingness to meet its financial obligations and is not specific to any debt instrument. "The rating action reflects our view of SJRMC's deep operating losses in interim 2019 that have also caused a precipitous drop in unrestricted reserves," said S&P Global Ratings credit analyst Ashley Henry. The negative outlook reflects our view of the above.
