Fitch Lowers $67.1 M Issued for Flint, Mich., Hospital to Negative BB-Plus

Carvlin, Elizabeth
January 2006
Bond Buyer;1/30/2006, Vol. 355 Issue 32308, p40
Trade Publication
The article reports on Fitch Ratings Inc.'s downgrading of $67.1 million of revenue bonds issued by Flint, Michigan-based Hospital Building Authority on behalf of Hurley Medical Center to below investment grade due to operating losses. The Fitch's reason for the drop of hospital's rating to BB-plus from BBB-minus is the increasing pressure from expenses that include pension and malpractice costs. Medical center's debt remains moderately low relative to revenue and liquidity.


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