Summary: Christian County, Kentucky Jennie Stuart Medical Center; Hospital Dec 11

Standard & Poors, December 2011

Abstract
Standard & Poor's Ratings Services revised the outlook to negative from stable on Christian County, Ky.'s $60.1 million series 2006 fixed-rate debt, issued for Jennie Stuart Medical Center (Jennie Stuart), and insured by Assured Guaranty. At the same time, Standard & Poor's affirmed its 'BBB' underlying rating (SPUR) on the debt. The outlook change and affirmed 'BBB' rating reflect our view of Jennie Stuart's good business position and adequate balance sheet metrics, offset by a deterioration in the medical center's operations in fiscal 2010 and through the nine months ended September 2011, largely caused by softer patient volumes. More specifically, the rating reflects our view of Jennie Stuart's: Acceptable balance sheet metrics, highlighted by 139 days' cash on hand through...

Companies mentioned in this report are: Jennie Stuart Med Ctr,Christian Cnty
Action: Affirmed
Action: Outlook: Negative

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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.

Jennie Stuart Med Ctr,Christian Cnty

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