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Who's up and who's down

Tenet Healthcare Corp., Dallas
Outlook: Positive
Affected debt: $4.5 billion
Agency: Moody's
Remarks: The positive outlook reflects the reduction of refinancing risk given the company's recent capital transactions. Further, Moody's believes that recent improvements in leverage levels that were accelerated with the repayment of debt from the proceeds of the convertible preferred stock can be maintained and will likely continue to modestly improve based on further EBITDA growth.

Camden-Clark Memorial Hospital, Parkersburg, WV
Outlook: Negative
Affected debt: $112.3 million
Agency: Standard & Poor's
Remarks: The BBB rating and negative outlook reflects two years of poor financial operating performance leading to low debt service coverage levels for the revised rating and an indication that break-even financial performance from operations is not anticipated until the fiscal year ending June 30, 2011.

Willis-Knighton Health System, Shreveport-Bossier City, LA
Outlook: Stable
Affected debt: $198.65 million
Agency: Standard & Poor's
Remarks: The raised rating from A- is based on WKHS' solid operations that continue to strengthen, its improving balance sheet, and overall sound business position.

Les Masterson

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