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Remarks: S&P lowered its long-term and underlying ratings to A from A+ on Maryland Health & Higher Educational Facilities Authority’s series 1993 and 2001 bonds, reflecting financial performance that failed to meet expectations and an overall credit profile more commensurate with an A rating than an A+ rating.
A3 the long-term bond rating assigned to Lee Memorial Health System’s $438 million of rated debt. The outlook is revised to stable from positive at the higher rating level. The rating upgrade reflects two years of significant improvement to operating profitability.
Remarks: S&P raised its long-term rating to BBB+ from BBB on $12.7 million series 1998B bonds and its underlying rating to BBB+ from BBB on $101 million series C and 2004D bonds issued by the Massachusetts Health & Educational Facilities Authority. The higher rating reflects an assessment of Cape Cod Healthcare’s continued financial improvement as well as strides toward improved integration with the medical staff.
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