NEW YORK (Standard&Poor's) Dec. 22, 2003—Standard&Poor's Ratings Services said today that it raised its rating to 'BBB+' from 'BBB' on South Dakota Health&Education Facilities Authority's bonds issued for Huron Regional Medical Center based on a strong and improving liquidity position despite declining admissions due to a population decline in the center's service area. The outlook is stable. "Liquidity continues to be the strength of this credit," said Standard&Poor's credit analyst Charlene Butterfield. "Management has shown both the willingness and flexibility to cut expenses as necessary," she added, "and we expect the buildup of liquidity to continue despite the ongoing economic and utilization decline." In fiscal 2003, admissions fell 9% due to the
