Cheshire Medical Center, NH Bond Rating Lowered To 'A' On Weakened Financial Profile Jun 11
- ID: 1819125
- June 2011
- Standard & Poors
BOSTON (Standard & Poor's) June 9, 2011--Standard & Poor's Ratings Services has lowered its long-term rating to 'A' from 'A+' on New Hampshire Health & Educational Facilities Authority's $12.5 million series 1998 revenue bonds, issued for Cheshire Medical Center (CMC), N.H. The rating outlook is negative. "The lower rating reflects our assessment of CMC's declining revenue and utilization trends in fiscal 2010 and through interim fiscal 2011 resulting in a weakened overall financial profile," said Standard & Poor's credit analyst Jennifer Soule. "We also believe CMC's need to subsidize physicians associated with its longstanding Dartmouth-Hitchcock Keene joint venture, a multispecialty practice that is part of the Dartmouth-Hitchcock Clinic, has added to the system's weakened financial position," said Ms. Soule. Standard...
Companies mentioned in this report are:
- Cheshire Med Ctr
- New Hampshire Hlth & Educl Facs Auth
Action: Outlook: Negative
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Research type: News
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