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BULLETIN: Universal Health Services Inc. Share Repurchase Has No Effect on Ratings Nov 04
Standard & Poors, Nov 2004
Abstract
NEW YORK (Standard & Poor's) Nov. 18, 2004--Standard & Poor's Ratings Services said today that its ratings and outlook on acute-care hospital operator Universal Health Services Inc. (BBB/Negative/--) would not be affected after the company's board of directors approved the buyback of up to 2 million more shares under the company's existing share repurchase program. The repurchase is not expected to have a material impact on the King of Prussia, Pa.-based company's financial position, despite recent earnings weakness. The company will likely conduct the buyback in a disciplined manner consistent with its investment-grade rating, primarily with free cash flow. The outlook is negative, however, because weak patient volume trends could persist and ultimately result in further erosion in earnings. Should...
Companies mentioned in this report are: Universal Health Services Inc.
Action: Bulletin
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.
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