Summary: New Jersey Health Care Facilities Financing Authority Holy Name Medical Center; Hospital Oct 11
- ID: 1931804
- October 2011
- Region: New Jersey
- Standard & Poors
Standard & Poor's Ratings Services has affirmed its 'BBB-' long-term rating on the series 2010 and 2006 bonds issued by New Jersey Health Care Facilities Financing Authority for Holy Name Medical Center (HNMC) (formerly known as Holy Name Hospital). The rating reflects our view of HNMC's thin operating margins in the past few fiscal years that have generated sufficient debt service coverage and an adequate balance sheet for the rating. More specifically, the 'BBB-' rating reflects our assessment of HNMC's: Slightly improved audited operating performance in fiscal 2010 though operating profitability remains very thin and negative if adjusted for the employed physicians; Adequate balance sheet characterized by average liquidity in terms of days' cash on hand, weak cash to debt,...
Companies mentioned in this report are:
- Holy Name Med Ctr
- New Jersey Hlth Care Facs Fincg Auth
Action: Outlook: Stable
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