Money Talk

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Down
Lincoln Health System Inc., Ruston, La.
Rating: Ba1
Outlook: Stable
Affected debt: $12.1 million
Agency: Moody’s Investors Service
Remarks: Downgraded from Baa3 thanks to greater than anticipated losses in 2005 fiscal year, in part because of increased competitive pressure from a 10-bed specialty hospital that opened in 2003.

Even
Holy Name Hospital, Teaneck, N.J.
Rating: BBB
Outlook: Stable
Affected debt: $57.4 million
Agency: Standard & Poor’s
Remarks: Strong management team achieved significant turnaround in operating results in 2005. Proceeds from bonds will be used to finance sorely needed projects.

Down
Anna Jaques Hospital, Newburyport, Mass.
Rating: Baa3
Outlook: Negative
Affected debt: $10 million
Agency: Moody’s Investors Service
Remarks: Downgraded from Baa2 because of multiple years of deficit performance contributing to negative balance sheet indicators that will be further challenged with the issuance of an additional $5 million in private placement debt.

Up
Baptist Health South Florida, Coral Gables, Fla.
Rating: Aa3
Outlook: Stable
Affected debt: $586 million
Agency: Moody’s Investors Service
Remarks: Outlook raised from negative thanks to strong financial performance, successful expansion and construction projects and successful integration of Doctors Hospital into operations.

—Philip Betbeze