S&P Drops Erie County, Pa., Hospital Debt to BBB-Plus

September 2009
Bond Buyer;9/21/2009, Vol. 369 Issue 33186, p2
Trade Publication
The article reports that Standard & Poor's Corp. (S&P) has lowered its long-term ratings of Hospital Authority revenue bonds issued for the Hamot Health Foundation in Erie County, Pennsylvania, to BBB-plus from A-minus. S&P reportedly did this due to the declining performance and weak liquidity of the foundation. S&P's analysts said that the operating performance of the foundation was worse than expected in 2008 due to bad debt.


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