Summary: St. Joseph Health System, CA; System Oct 06
- ID: 2044002
- October 2006
- Standard & Poors
Standard & Poor's Ratings Services affirmed its 'AA-' long-term rating and underlying rating (SPUR) on St. Joseph Health System, Calif.'s outstanding debt, issued by the California Statewide Communities Development Authority and the Lubbock Health Facilities Development Corporation. The rating affirmation was based upon continued strong operating results, which have resulted in very solid maximum annual debt service (MADS) coverage. Additionally, the operating performance has allowed St. Joseph to improve its balance sheet ratios, while at the same time fund higher levels of capital expenditures. More specifically, the rating reflects: Robust operating results in fiscal 2006, with an operating margin of 4.2% and maximum annual debt service (MADS) coverage of 6.5x; The system's dominant market positions at the majority of its...
Companies mentioned in this report are:
- St. Joseph Hlth Sys
- Lubbock Hlth Fac Dev Corp
- California Statewide Communities Dev Auth
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