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New Jersey Health Care Facilities Financing Authority Trinitas Regional Medical Center; Hospital Aug 11 Product Image

New Jersey Health Care Facilities Financing Authority Trinitas Regional Medical Center; Hospital Aug 11

  • Published: August 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
Standard & Poor's Ratings Services has affirmed its 'BBB-' long-term rating on the $130.4 million series 2007A and 2007B bonds issued by the New Jersey Health Care Facilities Financing Authority for Trinitas Regional Medical Center (TRMC). The outlook is stable. The 'BBB-' rating reflects our assessment of TRMC's: Improving profitability trend with positive earnings in 2009 and 2010; Strong and growing cash and investment balances that provide flexibility; and Growing volumes as an essential provider in Elizabeth, N.J. In our opinion, a higher rating is precluded by TRMC's; High debt levels; Challenging payor mix with a high percentage of Medicaid and self-pay patients; and Significant reliance on state subsidy funds for profitability. TRMC represents the consolidation of two formerly competing...

Companies mentioned in this report are:
- Trinitas Regl Med Ctr
- New Jersey Hlth Care Facs Fincg Auth

Action: Affirmed

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- Trinitas Regl Med Ctr
- New Jersey Hlth Care Facs Fincg Auth

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