TITLE

Columbus Hosp, N.J., Cut to B3 by Moody's

AUTHOR(S)
Cataldo, Adam L.
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/30/2004, Vol. 350 Issue 32019, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Moody's Investors Services Inc. yesterday downgraded Columbus Hospital in New Jersey to B3 from B2 and put the hospital on watch list for another possible downgrade. The new rating affects $27 million in debt from the 1991 series. Drops in cash on hand as a result of operating losses, in fiscal 2003 and 2004 and the payback of almost S5 million in Medicaid reimbursement fees led to the downgrade. According to the report form rating agency the institution is essentially illiquidated with no line of credit available to the organization.
ACCESSION #
15256309

 

Related Articles

  • 144A New Deal Pipeline Full. Lewis, Jakema // Private Placement Letter;7/30/2001, Vol. 19 Issue 30, pN.PAG 

    The new issues pipeline for Rule 144A transactions was overflowing last week, with the market seeing several jumbo-sized deals originating from repeat borrowers in the market. Lebanese Republic issued $750 million in unsubordinated notes via Merrill Lynch& Co; and Salomon Smith Barney. The...

  • Lake Forest Hosp., Ill., Gets Negative Outlook.  // Bond Buyer;6/22/2005, Vol. 352 Issue 32159, p2 

    This article reports that Moody's Investors Service Inc. bas affirmed the A3 long-term rating of Illinois Lake Forest Hospital Foundation, affecting $77.0 million of outstanding debt issued through the Illinois Health Facilities Authority, including the Series 2002A and Series 2003 bonds....

  • Long Beach, N. Y., Off Moody s Watch.  // Bond Buyer;10/31/2005, Vol. 354 Issue 32249, p2 

    Reports that the Moody's Investors Service Inc. has confirmed the rating on general obligation debt and removed the credit from watch lists for possible downgrade in Long Beach, New York.

  • Next Default Cycle May See Bigger Losses. Sheahan, Matthew // High Yield Report;11/4/2013, p31 

    The article reports that the longer cycle of defaults in the high yield bond market in 2013 will result to more losses among investors than they did during the 2009-2010 cycle, according to Moody's Investors Service. In addition, the rating agency projects lower recoveries for creditors during...

  • Caution Should be Key for Russia and Investors. Iyer, Savita // High Yield Report;10/27/2003, Vol. 14 Issue 41, p2 

    Supports the investors' cautious and prudent response to the decision of Moody's Investor Service to upgrade the foreign currency rating of Russia by two notches to Baa3.

  • Moody's: 79% of 2013 Rating Changes Were Downgrades. Jagoda, Naomi // Bond Buyer;1/28/2014, Vol. 123 Issue 34050, p1 

    The article focuses on the statement of U.S.-based credit rating agency Moody's Investors Service's who states that their public finance rating changes last year were downgrades, but the par value of upgrades rose to the highest level since 2010. Information on decrement of 69 percent of rating...

  • Retail To Continue Spending Spree.  // Bank Loan Report;4/16/2007, Vol. 22 Issue 15, p1 

    The article reports on the observation of Moody's Investors Service Inc. regarding the financial activities of few retailers in the U.S. The company indicate that aggressive financial activities of retailers manifest that they are focusing on materially paying down debt to migrate to a higher...

  • Moody's Watching Hospitals' Debt Structure. Devitt, Caitlin // Bond Buyer;4/14/2009, Vol. 368 Issue 33097, p1 

    The article reports on the move of Moody's Investors Service Inc. to watch the variable-rate debt exposure and associated liquidity risks of a nonprofit hospital's debt structure in the U.S. The rating agency identified three factors that pose particular risks as hospitals struggle with...

  • NEW YORK: Roosevelt Schools on Watch. Phillips, Ted // Bond Buyer;4/2/2007, Vol. 359 Issue 32599, p9 

    The article reports on the placement of the Roosevelt Union Free School District's general obligation and revenue debt on watch list for possible downgrade by the Moody's Investors Service Inc. in New York. The action is a result of material events notices of two delinquent interest payments...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics