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Who’s up and who’s down

Up
University Hospitals Health System, Cleveland, OH
Rating: A2
Outlook: Stable
Affected debt: $875 million
Agency: Moody's Investors Service
Remarks: Rating raised from A3, reflecting the system's ability to raise operating cash flow and implement strategies that will position the system better financially and strategically.

Up
Duncan Regional Hospital, Duncan, OK
Rating:
A
Outlook: Stable
Affected debt: $27.4 million
Agency: Standard & Poor's
Remarks: Rating raised from A- because of a several-year favorable operating trend that allowed the hospital to build an already strong liquidity position with 435 days cash on hand.

Down
Palomar Pomerado Health, San Diego
Rating:
A3
Outlook: Negative
Affected debt: $231 million
Agency: Moody's Investors Service
Remarks: Poorer than expected operating performance, weakening liquidity and anticipation of significant revenue bond issue in 2009.

Down
Flagler Hospital, St. Augustine, FL
Rating:
A-
Outlook: Negative
Affected debt: $34.4 million
Agency: Standard & Poor's
Remarks: Declining operating performance over the past three fiscal years and continued operational challenges through the first quarter of 2008.

Philip Betbeze

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