NEW YORK (Standard & Poor's) Dec. 1, 2010--Standard & Poor's Ratings Services said it revised its rating outlook to negative from stable on the Daughters of Charity Health System (DCHS), Calif., and affirmed its 'BBB' long-term rating on the system's $463 million series 2005A, 2005F, 2005G, 2005H, and 2008A fixed-rate bonds, which were issued by the California Statewide Communities Development Authority. "Operating losses at DCHS accelerated in 2010 and have continued through the first quarter of fiscal 2011 at a higher pace," said Standard & Poor's credit analyst Cynthia Keller. As a result, the system has made a decision to increase integration among the hospitals through a shift away from a decentralized management company and toward centralized management in an...
Companies mentioned in this report are:
- Daughters of Charity Hlth Sys
- California Statewide Communities Dev Auth
Action: Outlook: Negative
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Research type: News
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