Standard & Poor's Ratings Services lowered its long-term rating and underlying rating (SPUR) to 'BBB-' from 'BBB' on Chelan County Public Hospital District No. 1, Wash.'s general obligation (GO) debt. The outlook is negative. The rating action reflects our view of the district's fiscal 2010 operating loss and decreased cash on hand as a result of a recent renovation project. The rating reflects our view of the district's: Potential service demand and tax base volatility associated with a local economy focused on tourism, second homes, and agriculture; Small operating size, which leaves the hospital vulnerable to wide swings in revenues related to small utilization changes, including an operating loss in fiscal 2010 and another anticipated for fiscal 2011; Less than...
Companies mentioned in this report are: Cascade Med Ctr,Chelan Cnty Pub Hosp Dist #1
Action: Outlook: Negative
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