S&P Downgrades Miami's Jackson Hospital, Citing Decline in Income

Sigo, Shelly
December 2004
Bond Buyer;12/7/2004, Vol. 350 Issue 32024, p44
Trade Publication
The article reports that Standard & Poor's lowered its underlying rating on bonds issued for Florida's largest public hospital, Miami-based Jackson Memorial Hospital, to BBB-plus from A-minus on Friday. The outlook is negative, said a report by analyst Martin Arrick. The downgrade affects $65.58 million of Series 1998 public facilities revenue bonds issued by Miami-Dade County for Jackson Memorial. Unaffected are the triple-A ratings on the Series 1998 bonds based on bond insurance from Financial Security Assurance, and triple A ratings on Series, 1993 and 1993A bonds based on bond insurance from MBIA Insurance Corp.


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