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Summary: Southern Mono Healthcare District, California; General Obligation Nov 11

  • ID: 2024667
  • November 2011
  • Region: California
  • Standard & Poors

Standard & Poor's Ratings Services affirmed its 'BBB+' underlying rating (SPUR) on Southern Mono Healthcare District, Calif.'s general obligation (GO) bonds. The rating reflects our view of the district's: Potential for demand fluctuations related to a service area that is geographically isolated and concentrated in tourism, particularly weather-dependent ski recreation; Risks inherent with hospitals that have a small medical staff; Uneven historical operating results; and Relatively high leverage, although this metric has been improving. Partly offsetting the above weaknesses is our view of the district's: Strong income and wealth indicators; Expenditure and revenue management that we believe has swung before-property tax operations to positive for fiscal 2011 and likely for fiscal 2012; and Good liquidity position after a period of...

Companies mentioned in this report are: Southern Mono Healthcare Dist
Action: Affirmed
Action: Outlook: Stable

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Southern Mono Healthcare Dist

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