New Jersey Health Care Facilities Financing Authority St. Joseph's Healthcare System; Hospital

Standard&Poor's Ratings Services affirmed its 'BBB-' rating on New Jersey Health Care Facilities Financing Authority's series 2008 bonds issued for St. Joseph's Healthcare System (SJHS). The outlook is stable. In the interim fiscal 2014 period, SJHS significantly improved operating performance due to improved revenues and cost containment efforts. The balance sheet improved in terms of days' cash on hand but key metrics remain below median levels. We expect that operating performance will continue to be solid and, coupled with the lack of debt plans, should allow SJHS to build balance sheet strength. The 'BBB-' rating reflects our assessment of SJHS': Limited balance-sheet flexibility with high debt and low unrestricted reserves relative to debt compared with median ratios, though

...Standard & Poor's Ratings Services affirmed its '###-' rating on New Jersey Health Care Facilities Financing Authority's series 2008 bonds issued for St. Joseph's Healthcare System (SJHS). The outlook is stable. In the interim fiscal 2014 period, SJHS significantly improved operating performance due to improved revenues and cost containment efforts. The balance sheet improved in terms of days' cash on hand but key metrics remain below median levels. We expect that operating performance will continue to be solid and, coupled with the lack of debt plans, should allow SJHS to build balance sheet strength. The '###-' rating reflects our assessment of SJHS':...

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