Medical Card System Inc. And Operating Companies Ratings Affirmed; Outlook Negative Sep 11

Standard & Poors, September 2011

Abstract
Medical Card System Inc. (MCS) is experiencing operating losses in its Mi Salud (Medicaid) business and has announced its exit from this business effective Oct. 31, 2011. We are affirming the ratings on MCS and its operating companies and removing them from CreditWatch. We expect MCS's operating losses from the Mi Salud program to result in very tight cushions to covenants. NEW YORK (Standard & Poor's) Sept. 19, 2011--Standard & Poor's Ratings Services said today that it affirmed its 'BB' financial strength and long-term counterparty credit ratings on MCS's operating companies--MCS Advantage Inc., MCS Life Insurance Co., and MCS Health Management Options Inc.--and its 'B' long-term counterparty credit and senior secured debt ratings on MCS. We also removed the ratings...

Companies mentioned in this report are: Medical Card System Inc.,MCS Life Insurance Co.,MCS Health Management Options Inc.,MCS Advantage Inc.
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch

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.

Medical Card System Inc.,MCS Life Insurance Co.,MCS Health Management Options Inc.,MCS Advantage Inc.

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