SAN FRANCISCO (Standard&Poor's) Feb. 10, 2014--Standard&Poor's Ratings Services lowered its long-term rating and underlying rating (SPUR) to 'BBB+' from 'A+' on Palomar Pomerado Health District (Palomar Health), Calif.'s general obligation (GO) bonds outstanding. The outlook is stable. "The rating action reflects our assessment of a weakening of Palomar Health's financial profile due to lower-than-expected volumes following the opening of Palomar Medical Center in August 2012, combined with a substantial increase in capital costs now that the medical center is in service and greater-than-expected start-up costs in fiscal 2013 associated with the transition to the new facility," said Standard&Poor's credit analyst Jen Hansen. The ratings reflect our view of Palomar Health's: Weakened unrestricted liquidity, Weaker-than-anticipated
