S&P Lowers Georgia Med Ctr to BB-Plus

January 2005
Bond Buyer;1/6/2005, Vol. 351 Issue 32044, p2
Trade Publication
The article reports that Standard & Poor's Corp. has said it lowered its rating two notches to BB-plus from BBB on Baldwin County, Georgia, Hospital Authority's outstanding bonds issued for Oconee Regional Medical Center. The outlook is negative. The downgrade reflects historically weak operating performance, with operating deficits in four out of the past five fiscal years; very slim liquidity levels, as unrestricted cash and investments have not kept pace with the growth in operations; and a vulnerable pay or mix, with 14% of revenues coming from Medicaid and 8% from self-pay.


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