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Industry Report Card: U.S. Healthcare Aug 03
Standard & Poors, Aug 2003
Abstract
For the rest of 2003, health care providers will continue to benefit from the increasing demand for health services from an aging U.S. population. Companies will also benefit from refinancing, as they tap capital markets increasingly eager to invest in this industry, still considered to be relatively attractive despite problems at two high-profile companies. Such refinancings will allow companies to lower borrowing costs and stretch out debt maturities, and thus enhance their creditworthiness. A better financial cushion for select credits is expected through repayment of acquisition-related debt. Thus far in 2003, the U.S. health care sector has seen a roughly equal number of positive and negative rating actions. However, because of the high profile downgrades of Tenet and HEALTHSOUTH, a...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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