S&P Corrects Rating On Pomona Valley Educational Joint Powers Authority, CA's 2002 Revenue Bond To 'B' Nov 12
- Language: English
- Published: November 2012
Standard & Poor's Ratings Services revised its outlook to stable from negative and affirmed its 'BBB-' underlying rating (SPUR) on California Health Facilities Financing Authority's outstanding debt, issued on behalf of Pomona Valley Hospital Medical Center (Pomona Valley). Last year, Standard & Poor's lowered its ratings on the center's debt to 'BBB-/Negative' from 'BBB/Stable'; since then, operations have improved to just above break even. This is a notable improvement in our view, given the magnitude of the previous operating losses. In addition to the operational turnaround, Pomona Valley has benefited significantly from the California State Provider Fee, and the balance sheet has improved considerably. The revised outlook reflects our view of Pomona Valley's: Improved operating results, with positive operating margins...
Companies mentioned in this report are: Pomona Vy Hosp Med Ctr,California Hlth Facs Fin Auth
Action: Outlook: Stable
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Pomona Vy Hosp Med Ctr,California Hlth Facs Fin Auth