Standard & Poor's Ratings Services affirmed its 'A' long-term and underlying ratings (SPUR) on New Jersey Health Care Facilities Financing Authority's series 2008A-C bonds, issued for AHS Hospital Corp., whose parent company is Atlantic Health System. The 'A' rating reflects our opinion of the system's: Improved operating results in fiscal 2009, and year to date in fiscal 2010; Adequate balance sheet characterized by 141 days' cash on hand; and Solid business position in the two key affluent markets AHS serves, highlighted by increasing volumes. The 'AAA/A-1' dual rating on the series 2008B bonds was also affirmed based on the application of low-correlation joint criteria with a letter of credit (LOC) from Bank of America N.A. ('A+/A-1') and the SPUR on...
Companies mentioned in this report are:
- AHS Hospital Corp
- New Jersey Hlth Care Facs Fincg Auth
Action: Outlook: Stable
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