North Carolina Medical Care Commission CaroMont Health; Hospital

S&P Global Ratings affirmed its 'AA-' underlying rating (SPUR) and stable outlook, on North Carolina Medical Care Commission's series 2008 hospital revenue bonds, issued for CaroMont Health. The hospital converted its series 2003A and 2003B variable-rate demand bonds to $59.35 million series 2003A and $59.35 million series 2003B private placement bonds with Wells Fargo. We have withdrawn the rating on the series 2003 bonds, but factored the converted private placement debt into our analysis. The rating reflects our expectation that CaroMont will maintain its leading market position and solid financial profile, with continued improvement in financial performance expected through the two-year outlook period as volumes and corresponding revenues continue to grow. The hospital's operating performance had weakened slightly in the

...S&P Global Ratings affirmed its '##-' underlying rating (SPUR) and stable outlook, on North Carolina Medical Care Commission's series 2008 hospital revenue bonds, issued for CaroMont Health. The hospital converted its series 2003A and 2003B variable-rate demand bonds to $59.35 million series 2003A and $59.35 million series 2003B private placement bonds with Wells Fargo. We have withdrawn the rating on the series 2003 bonds, but factored the converted private placement debt into our analysis. The rating reflects our expectation that CaroMont will maintain its leading market position and solid financial profile, with continued improvement in financial performance expected through the two-year outlook period as volumes and corresponding revenues continue to grow. The hospital's operating performance had weakened slightly in the past two years, mainly due to a higher level of depreciation following a large-scale technology installation; however, we think the operating margin remains consistent...

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