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Money Talk

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Who's up and who's down

Up
Aspirus Wausau (WI) Hospital
Rating: A
Outlook: Stable
Affected debt: $112.4 million
Agency: Standard & Poor's
Remarks: Outlook revision from negative due to good liquidity position with about 200 days cash on hand and good balance sheet performance in the face of increased competition.

Down
Elliot Hospital, Manchester, NH
Rating: A-
Outlook: Negative
Affected debt: $50.8 million
Agency: Standard & Poor's
Remarks: Decline in operating performance in 2006, 2007 and budgeted for 2008, coupled with management plans to add up to $82 million in additional debt in the next year.

Down
Doctors Community Hospital, Lanham, MD
Rating: Baa2
Outlook: Stable
Affected debt: $80 million
Agency: Moody's Investors Service
Remarks: Rating lowered from Baa1 with a negative outlook primarily because of a 74 percent increase in debt to support capital spending plans.

Up
Exempla Inc., Denver, CO
Rating: A1
Outlook: Positive
Affected debt: $85.9 million
Agency: Moody's Investors Service
Remarks: Exempla, dba Exempla Lutheran Medical Center, expected to change sponsorship to Sisters of Charity of Leavenworth Health System by early 2008 and eventually become absorbed by SCL.

-Philip Betbeze

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