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Money Talk

Anna Webster, November 15, 2010
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Who's up and who's down 

UP
Bowling Green (KY)-Warren County Community Hospital Corp.
Rating: BBB+
Outlook: Positive
Affected debt: $82.2 million
Agency: Standard & Poor's
Remarks: S&P revised its outlook
to positive from stable, affirming its BBB+ rating on series 2008 and 2007A bonds for Bowling Green-Warren County Community Hospital. The revision is based on the hospital corporation's increasing operating profitability and potential for balance sheet growth.

DOWN

Marietta (OH) Area Health Care
Rating: Ba2
Outlook: Negative
Affected debt: $38.5 million
Agency: Moody's Investors Service
Remarks: Marietta Area Health Care's
original rating of Ba1 has been removed from Moody's Watchlist and has been downgraded to Ba2. The change affects Washington County's outstanding revenue bonds. Moody's has revised the outlook to negative due to MAHC's high variable-rate debt and increased risk of violating the liquidity covenant.

STABLE

Lowell (MA) General Hospital
Rating: Baa1
Outlook: Stable
Affected debt: $14.3 million
Agency: Moody's Investors Service
Remarks: Moody's has downgraded
Lowell General Hospital's rating to Baa1
from A3 for Series 2010C and D bonds. The downgrade reflects LGH's increased debt from building renovations and flat population trends in the area. The outlook is stable because of Moody's belief that LGH will maintain operation performance levels.

STABLE

Advanced Homecare Holdings, Inc., Dallas
Rating: B+
Outlook: Stable
Affected debt: $160 million 
Agency: Standard & Poor's
Remarks: S&P has revised Advanced
Homecare Holdings, Inc. to a B+ rating from a B due to AHH's increasing EBITDA growth. The outlook has been revised from positive to stable. AHH has been vulnerable to fluctuations in revenue over the past year due to CMS adjustments to the industry in terms of coding and reimbursement.

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