|
|
 |
|
Viewing report
|
|
|
|
California Statewide Communities Development Authority, Huntington Memorial Hospital; Hospital Sep 11
Standard & Poors, Sep 2011
Abstract
Standard & Poor's Ratings Services 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 affirmation takes into account our view of HMH's strong market position in a favorable service area, solid balance sheet, and moderate debt burden. The outlook is stable. The rating also reflects our view of HMH's: Improved liquidity, Moderate debt burden and modest leverage of 29%, Good cash flow and sound maximum annual debt service (MADS) coverage, Stable operating results, and Strong philanthropy. Negative rating factors include slim operating results and an unfunded pension obligation. HMH has $216.5 million of fixed-rate debt outstanding, with no outstanding swaps. The series 2005 bonds are...
Companies mentioned in this report are: Huntington Mem Hosp,California Statewide Communities Dev Auth
Action: Affirmed
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: Full Analysis
|
|
|
|
