- Language: English
- Published: August 2012
Summary: Genoa Healthcare Group LLC Jun 11
- ID: 1835519
- June 2011
- Standard & Poors
The low speculative-grade rating on Tampa-based Genoa Healthcare Group LLC reflects its vulnerable business risk profile that is subject to the company's concentration in one state, and its exposure to uncertain third-party reimbursement and economic trends. Moreover, its financial risk profile is highly-leveraged. Genoa's portfolio of nursing homes is composed of about 60 leased facilities in Florida. Because of its single-state concentration, the company receives over 40% of its revenues from the Florida Medicaid system. Consequently, it is vulnerable to Florida state program changes. Current weak economic conditions underscore this vulnerability because states often cut or forego increases in Medicaid rates during times of budgetary stress. For example, Florida recently approved legislation to reduce payments to nursing homes by 6.5%...
Companies mentioned in this report are: Genoa Healthcare Group LLC
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
SHOW LESS READ MORE >
Genoa Healthcare Group LLC