Summary: Mississippi Hospital Equipment & Facilities Authority, Mississippi Baptist Health System; Hospital Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services revised its outlook to stable from negative and affirmed its 'A-' long-term rating on Mississippi Hospital Equipment and Facilities Authority's series 2007A revenue bonds issued for Mississippi Baptist Health Systems (MBHS). In our view, the outlook revision and 'A-' rating are supported by MBHS's: Improved operational liquidity, with 236 days' cash on hand and 114% cash to debt as of fiscal 2011 (audited results through Aug. 31, 2011), and limited expectation of significant capital expenditures, which provides the organization some financial flexibility as it tries to improve operations; and Good market position in the primary service area (PSA) and preferred provider status in several key service lines despite the competitive marketplace, and gradually improving year-over-year...

Companies mentioned in this report are: Mississippi Baptist Hlth Sys,Mississippi Hosp Equip & Fac Auth
Action: Affirmed
Action: Outlook: Stable

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.

Mississippi Baptist Hlth Sys,Mississippi Hosp Equip & Fac Auth

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