- Language: English
- Published: April 2013
- Region: California
Summary: Turlock, California Emanuel Medical Center; Hospital May 11
- ID: 1804809
- May 2011
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'BBB' long-term rating on the City of Turlock, Calif.'s series 2007A and 2007B health facility certificates of participation (COPs) and series 2004A COPs, all issued for Emanuel Medical Center (EMC). The rating outlook is stable. The rating reflects our view of EMC's: Agreement with Kaiser Permanente (Kaiser) that ends in March 2013, though we believe EMC is making good progress toward reducing its reliance on the Kaiser volume in anticipation of the contract's termination; Debt-related balance sheet measures that are weaker than those of similarly rated hospitals, with 65.4% unrestricted cash and investments to debt and debt to capitalization of 47.5% at Jan. 31, 2011 (based on draft audited financials); and Fairly competitive...
Companies mentioned in this report are: Emanuel Med Ctr,Turlock
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 >
Emanuel Med Ctr,Turlock