Methodist Healthcare Raised to A- by S&P

June 2003
Bond Buyer;6/30/2003, Vol. 345 Issue 31667, p2
Trade Publication
Standard & Poor's said it raised its rating on the Shelby County Health, Education, and Housing Facilities Board, Tennessee's bonds issued for Methodist Healthcare to A-from BBB-plus. The outlook is stable. The upgrade reflects the recent sale of the Memphis and West-Tennessee hospitals, which were negatively impacting operations following several years of operating deficits; and an improving liquidity position, as the sale of the West-Tennessee hospitals will add a net $30.0 million back to the balance sheet as unrestricted cash while eliminating certain long-term liabilities, the rating agency said.


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