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Madison County, Idaho, Madison Memorial Hospital; Hospital Jun 11

  • ID: 1820300
  • June 2011
  • Region: Idaho
  • Standard & Poors
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Standard & Poor's Ratings Services lowered its long-term rating to 'BB+' from 'BBB-' on Madison County, Idaho's series 2006 revenue certificates of participation (COPs), issued on behalf of Madison Memorial Hospital (MMH). While the hospital has a strong business position with solid demographics, the lowered rating reflects our view of its persistent operating losses and heavy debt load. The outlook remains negative due to the continued operating losses year to date. More specifically, factors leading to the lowered rating include our view of the hospital's: Considerable operating losses and flat revenues, although management reports operations have improved in recent months; Very low coverage of maximum annual debt service (MADS) coverage and a very high debt burden; Weak balance sheet with...

Companies mentioned in this report are: Madison Mem Hosp,Madison Cnty
Action: Downgraded

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: Full Analysis

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Madison Mem Hosp,Madison Cnty

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