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Industry Report Card: U.S. Health Care Jan 03
Standard & Poors, Jan 2003
Abstract
The negative tone of U.S. health care industry credit actions persisting through the last half through year-end 2002, was a contrast to more upbeat conditions earlier in the year. Still, while there were five downgrades since early September and only three upgrades, the year ended with an about even split between positive and negative rating actions in the U.S. industrials health care sector. In sharp contrast, U.S. industrial companies overall witnessed almost four times the number of downgrades for each upgrade. The highest profile corporate health care downgrades in recent months--Tenet and HEALTHSOUTH--reflected company-specific issues relating to billing and corporate governance at those hospital chains rather than broader credit trends of significance to other industry players. LabCorp received the other...
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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