Summary: California Statewide Communities Development Authority, Huntington Memorial Hospital; Hospital Sep 10
- ID: 2044286
- September 2010
- Region: California
- Standard & Poors
Standard & Poor's Ratings Services revised its outlook to stable from negative and affirmed its 'A+' long-term rating on California Statewide Communities Development Authority's series 2005 health care revenue bonds, issued for Huntington Memorial Hospital (HMH). The revised outlook reflects our view of HMH's strong market position in a favorable service area, good fund raising ability, improved financial performance, and moderate debt burden. The rating reflects our view of HMH's: Moderate debt burden, with maximum annual debt service (MADS) comprising 2.9% of total revenue and debt to capitalization of 33.0%; Manageable capital needs with the recent completion of a new patient tower; and Strong philanthropy that has generated annual contributions of $15 million and a current capital campaign for an...
Companies mentioned in this report are:
- Huntington Mem Hosp
- California Statewide Communities Dev Auth
Action: Outlook: Stable
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