Standard & Poor's Ratings Services has lowered its long-term rating to 'A' from 'A+' to New Hampshire Health & Educational Facilities Authority's $12.5 million series 1998 revenue bonds, issued for Cheshire Medical Center (CMC), N.H. The outlook is negative. The lower rating reflects our view of CMC's declining revenue and utilization trends in fiscal 2010 and through interim fiscal 2011 that have weakened the organization's overall financial profile. We believe CMC's need to subsidize physicians associated with a joint venture with Dartmouth-Hitchcock Keene has also contributed to CMC's weakening financial profile. In addition to the preceding credit factors, we also based the negative outlook on the uncertainty related to pending legislative changes to the state's Medicaid program. Management has indicated...
Companies mentioned in this report are:
- Cheshire Med Ctr
- New Hampshire Hlth & Educl Facs Auth
Action: Outlook: Negative
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