S&P Lowers to B-Minus Pennsylvania Hospital

January 2005
Bond Buyer;1/25/2005, Vol. 351 Issue 32056, p2
Trade Publication
The article reports that the Standard & Poor's Corp. downgraded to B-minus from B on Scranton-Lackawanna Health and Welfare Authority, Pennsylvania's outstanding debt issued for Moses Taylor Hospital. The outlook is negative. The outlook is negative due to concerns about the low level of liquidity and the magnitude of the loss in the first quarter of fiscal 2005, Standard & Poor's said. The hospital cannot continue to sustain losses of this magnitude for much longer. The hospital's pledged assets, including its accounts receivable, secure the debt.


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