NORMAN – Nine years ago, on Sept. 9, 2017, S&P Global Ratings upgraded Norman Regional Hospital Authority’s ratings on its revenue debt to “A-” from “BBB+.” The global credit rating agency based the upgrade on a strong financial profile and operational stability.
In September 2026, after years of trying to manage debt through a series of revenue bonds, S&P downgraded NRHA to a “D” rating signifying default. The recent rating decline was prompted by a missed principal and interest payment due on Sept. 1.
The 2017 S&P report noted NRHA “continued operating profitability, healthy cash flow, strong unrestricted reserves and a solid market position.” Those factors resulted in a “high-quality investment grade rating, well above speculative grades.”…