Reid Hospital, IN Outlook Revised To Negative On Weaker Operating Income

DALLAS (Standard&Poor's) March 17, 2016--Standard&Poor's Ratings Services revised its outlook to negative from stable and affirmed its 'A' long-term rating on Richmond Hospital Authority, Ind.'s $91.990 million series 2015A fixed-rate bonds, issued for Reid Hospital (dba Reid Health). "The outlook revision reflects our assessment of Reid's weakened operating income levels in fiscal 2015 and location with limited population growth, requiring it to venture into surrounding areas to seek additional volume gains," said Standard&Poor's credit analyst Kevin Holloran. "The 'A' rating is supported by our assessment of Reid's strong regional business position as the only hospital in Wayne County, with a consistently solid market share of over 80% and strong unrestricted reserves, with limited capital

...DALLAS (Standard & Poor's) March 17, 2016--Standard & Poor's Ratings Services revised its outlook to negative from stable and affirmed its 'A' long-term rating on Richmond Hospital Authority, Ind.'s $91.990 million series 2015A fixed-rate bonds, issued for Reid Hospital (dba Reid Health). "The outlook revision reflects our assessment of Reid's weakened operating income levels in fiscal 2015 and location with limited population growth, requiring it to venture into surrounding areas to seek additional volume gains," said Standard & Poor's credit analyst Kevin Holloran. "The 'A' rating is supported by our assessment of Reid's strong regional business position as the only hospital in Wayne County, with a consistently solid market share of over 80% and strong unrestricted reserves, with limited capital needs as a result of Reid's new inpatient facility," added Mr. Holloran. The negative outlook reflects our view that although Reid has enhanced its business position and maintained strong unrestricted...

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