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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
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Abstract
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: Affirmed
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, READ MORE >

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- AHS Hospital Corp
- New Jersey Hlth Care Facs Fincg Auth

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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