Summary: New Jersey Health Care Facilities Financing Authority AHS Hospital Corp.; Hospital; Joint Criteria Sep 10
- ID: 1718002
- September 2010
- Region: New Jersey
- Standard & Poors
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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >