Moody's Upgrades Stanford Hospital & Clinics, Lauding Turnaround

Kelemen, Jasmina
December 2004
Bond Buyer;12/29/2004, Vol. 350 Issue 32039, p28
Trade Publication
The article reports that Moody's Investors Service Inc. has upgraded Stanford Hospital & Clinics' (SHC) $433 million outstanding debt to A2 from A3, citing the hospital's operating turnaround since 2002. The action comes as part of an ongoing dialogue between the hospital and the rating agency following its last new money issue over a year and a half ago and does not precede any upcoming issuance, said Rae Boylan, senior managing director at Bear, Stearns & Co., the hospital's underwriter. The upgrade recognizes SHC's "significant operating improvement in 2003 and 2004," and lauds the hospital administration's ability to sustain and strengthen an economic turnaround that began in 2002.


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