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Palmetto Health Alliance, SC Bonds Rated 'BBB+' On Dominant Market Share Feb 07
Standard & Poors, February 2007
NEW YORK (Standard & Poor's) Feb. 16, 2007--Standard & Poor's Ratings Services assigned its 'BBB+' long-term rating to South Carolina Jobs Economic Development Authority's private placement of approximately $125 million series 2007 variable-rate bonds, issued for Palmetto Health Alliance. In addition, Standard & Poor's affirmed its 'BBB+' long-term rating and underlying rating (SPUR) on Palmetto's outstanding bonds. The outlook is stable. "Palmetto will need to continue to improve its cash flow to support ongoing and future capital needs as they arise," said Standard & Poor's credit analyst Anita Varghese. "We also expect that its Medicaid disproportionate share hospital (DSH) funding will stay stable at current levels." The rating reflects Palmetto's improved profitability due to a permanent increase in Medicaid DSH...
Companies mentioned in this report are: Palmetto Hlth,South Carolina Jobs Econ Dev Auth
Action: New Rating
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Palmetto Hlth,South Carolina Jobs Econ Dev Auth