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Who's up and who's down

Up
FirstHealth of the Carolinas, Pinehurst, NC
Rating:
AA
Outlook: Stable
Affected debt: $40 million
Agency: Standard and Poor's
Remarks: Upgraded to stable due to a strong financial performance, a pickup in liquidity in FY 2009, and establishing a more conservative and diversified debt structure.

Down
Boston Medical Center, MA
Rating:
Baa1
Outlook: Negative
Affected debt: $245 million
Agency: Moody's Investors Service
Remarks: Downgraded from A3 based on significant cuts in supplemental state funding, which have resulted in the erosion of balance sheet measures.

Down
Sierra Kings Health Care District, Reedley, CA
Rating:
Ba2
Outlook: Negative
Affected debt: $20 million
Agency: Moody's Investors Service
Remarks: Downgraded from Baa3 based on the district's imminent filing of a petition for chapter 9 bankruptcy protection.

Down
Saint Barnabas Health Care System, West Orange, NJ
Rating:
Ba1
Outlook: Negative
Affected debt: $881.9 million
Agency: Moody's Investors Service
Remarks: Downgraded from Baa2 based on the effects of a weakened balance sheet and poor financial management.

Karen Minich-Pourshadi

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