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: Outlook: Stable
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