District Of Columbia Sibley Memorial Hospital; Hospital Oct 10

Standard & Poors, October 2010

Abstract
Standard & Poor's Ratings Services affirmed its 'A' long-term rating, and stable outlook, on District of Columbia's series 2009 hospital revenue bonds, issued for Sibley Memorial Hospital. The rating reflects our assessment of the hospital's: Strong and consistent operating profitability with an operating margin at 5% for 2009; Overall strong balance sheet metrics characterized by a light debt-to-capital ratio of 15% as of July 31, 2010; Very strong liquidity, characterized by 881 days' cash on hand as of July 31, 2010; and Sibley's location in an area with favorable economic and demographic characteristics. A higher rating is precluded, in our opinion, by the hospital's: Generally small size, characterized by approximately $209 million of net patient revenues in fiscal 2009; Volume...

Companies mentioned in this report are:
- Sibley Mem Hosp
- District of Columbia

Action: Affirmed

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: Full Analysis

- Sibley Mem Hosp
- District of Columbia

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