Standard & Poor's Ratings Services revised its rating outlook to stable from negative and affirmed its BBB-' long-term rating and underlying rating (SPUR) on Intercommunity Hospital Finance Authority, Calif.'s series 1998 certificates of participation (COPs), issued on behalf of the NorthBay Healthcare System Obligated Group (NorthBay). The outlook revision reflects our assessment of NorthBay's improved operating performance in unaudited fiscal year 2012, driven by stronger volumes and cost controls implemented by management. In addition, NorthBay's balance sheet remains strong, with a fairly low amount of debt, and we expect this to continue to be the case through the outlook period given a change in project plans. Since the time of our last report, management has decided to forgo its planned...
Companies mentioned in this report are:
- Northbay Hlthcare Sys Obligated Group
- Intercomnty Hosp Fin Auth
Action: Outlook: Stable
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