Standard&Poor's Ratings Services affirmed its 'A+' long-term rating and underlying rating (SPUR) on Greenwood County, S.C.'s series 2012B, 2009, and 2004B bonds issued for Self Regional Healthcare. The outlook is stable. The affirmed ratings reflect our view of Self Regional's dominant market share, overall balance sheet strength, and solid financial results for the fiscal year ended Sept. 30, 2013 and through the 10 months year-to-date ended July 31, 2014. More specifically, the ratings reflect our opinion of Self Regional's: Solid cash flow coverage of maximum annual debt service (MADS) of 5.8x based on fiscal 2013 results, and about 4.5x based on projected fiscal 2014; Favorable current liquidity metrics of 495 days' cash on hand and 2.3x unrestricted cash
