Rating On Madison Memorial Hospital, Idaho's Series 2006 Revenue COPs Lowered To 'BB+' On Persistent Operating Losses Jun 11

  • ID: 1820738
  • June 2011
  • Region: Idaho
  • Standard & Poors
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SAN FRANCISCO (Standard & Poor's) June 10, 2011-- 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). The outlook is negative. "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. Further dampening the rating are the hospital's flat revenues and soft utilization," said Standard & Poor's credit analyst Geraldine Poon. "It is critical to the rating that operating losses do not accelerate in fiscals 2011 or 2012 and that liquidity does not deteriorate. Continued operating losses or any balance sheet...

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

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Madison Mem Hosp,Madison Cnty

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