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Summary: Cleveland Clin Foundn, OH; General Obligation, Local GO; Revenue - Health Care, Hospital; Revenue - Health Care, System Oct 97

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Abstract
The unenhanced long-term ratings on the Cuyahoga County, Ohio's bonds, issued for Cleveland Clinic Foundation (CCF) and others, reflects revenue and business growth and increasing use in a physician- driven organization. Also factored into the rating is the rapid consolidation of the Cleveland market, which is highlighted by the inclusion of Fairview Health System, Meridia Health System, Lakewood Hospital Association, and Marymount Hospital into the larger CCF system'although at this point, each entity, including CCF itself, remains obligated on their own debt without any cross-guarantees. The consolidation of the market is a significant positive that leaves the CCF system as one of Cleveland's two strong health-care systems. However, CCF's board and management still face numerous issues about how CCF and...

Companies mentioned in this report are: Cleveland Clinic Hlth Sys
Action: New Rating

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.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Companies Mentioned

Cleveland Clinic Hlth Sys

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Summary: Cleveland Clin Foundn, OH; General Obligation, Local GO; Revenue - Health Care, Hospital; Revenue - Health Care, System Oct 97

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+353-1-481-1716 or +353-1-653-1571 (from Rest of World)