Standard & Poor's Ratings Services has affirmed its 'BBB-' long-term rating on Palm Beach County Health Facilities Authority, Florida's $23.6 million series 1999A bonds and $85.4 million series 2001 bonds, issued for the BRRH Corp. Obligated Group (BRRH). The organization legally changed its name to the BRRH Corp. from the BRCH Corp. in 2010. BRRH's overall financial profile continued to improve through fiscal 2011 and was consistent with the 'BBB-' rating, though the organization posted a modest operating loss for the year that was contrary to expectations of profitability. Despite the fiscal 2011 improvement, due to unexpectedly weak volumes through the fiscal 2012 first quarter ended Sept. 30, 2011, operating deficits notwithstanding expected seasonal softness have widened and balance sheet...
Companies mentioned in this report are:
- Boca Raton Regl Hosp Corp Obligated Group
- Palm Beach Cnty Hlth Facs Auth
Action: Outlook: Stable
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