Universal Health Services Inc. CCR Lowered To 'BBB-' On Weaker Credit Metrics Apr 07

Standard & Poors, April 2007

Abstract
NEW YORK (Standard & Poor's) April 30, 2007--Standard & Poor's Ratings Services said today it lowered its ratings on King of Prussia, Pa.-based Universal Health Services Inc. (Universal). The corporate credit rating was lowered to 'BBB-' from 'BBB', and the rating outlook is stable. The rating downgrade reflects Standard & Poor's view that the hospital chain's financial profile will remain consistent with the revised rating. Our view considers the company's increased capital spending on growth initiatives including capital projects and acquisitions, relatively flat-to-weaker earnings trend, and possible continuation of a recently higher level of share repurchases (as seen over the past two years). "We believe that, based on Universal's recent capital spending that has already resulted in increased debt and...

Companies mentioned in this report are: Universal Health Services Inc.
Action: Downgraded

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Universal Health Services Inc.

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