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Universal Health Services Inc. CCR Lowered To 'BBB-' On Weaker Credit Metrics Apr 07
Standard & Poors, April 2007
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.
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Universal Health Services Inc.