Money Talk

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Who's up and who's down

Down
Lee Memorial Health System, Ft. Myers, FL
Rating:
A
Outlook: Negative
Affected debt: $180 million
Agency: Standard & Poor's
Remarks: Outlook revised to negative because of considerably weaker operating results and cash flow than projected at the time of financing.

Up
Memorial Health University Medical Center, Savannah, GA
Rating:
Baa2
Outlook: Stable
Affected debt: $199 million
Agency: Moody's Investors Service
Remarks: Outlook revised from negative because of significant operational improvement in 2008 and an expectation of continuing improvement in 2009.

Up
Roper St. Francis Healthcare, Charleston, SC
Rating:
Aa1
Outlook: Stable
Affected debt: $80 million
Agency: Moody's Investors Service
Remarks: Upgraded rating from Aa3 because of the delivery of an irrevocable letter of credit and the conversion of the bonds from auction-rate to daily interest.

Down
Mississippi Baptist Health Systems, Jackson, MS
Rating:
A-
Outlook: Negative
Affected debt: $220 million
Agency: Standard & Poor's
Remarks: Rating lowered from A because of weakened operating performance in fiscal 2008 and a general decline in admissions.

Philip Betbeze

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