Rating And SPUR On Fremont Rideout Health Group, CA's Revenue Bonds Lowered To 'A' On Continued Operational Challenges Mar 10

Standard & Poors, March 2010

Abstract
SAN FRANCISCO (Standard & Poor's) March 3, 2010--Standard & Poor's Ratings Services lowered its rating and underlying rating (SPUR) to 'A' from 'A+' on the City of Marysville, Calif.'s $27.7 million revenue bonds (series 1998A and series 2003A) and the California Statewide Communities Development Authority's $26.5 million series 2006A revenue bonds, all issued for Fremont Rideout Health Group (FRHG). At the same time, we withdrew our rating and SPUR on FRHG's $46.9 million series 2001A revenue bonds, which were redeemed on July 30, 2009, with unused series 2001A bond funds. The outlook is negative. "The rating actions reflect our view of continued operational challenges resulting in losses for fiscal 2009 and through the unaudited six months ended Dec. 31, 2009,"...

Companies mentioned in this report are:
- Fremont-Rideout Hth Grp
- Marysville
- California Statewide Communities Dev Auth

Action: Downgraded
Action: Outlook: Negative

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.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

- Fremont-Rideout Hth Grp
- Marysville
- California Statewide Communities Dev Auth

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