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: Outlook: Stable
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