Reid Hospital, IN's More-Limited-Than-Projected Balance Sheet Drives Debt Outlook To Negative

CHICAGO (Standard&Poor's) Jan. 23, 2009--Standard&Poor's Ratings Services revised its outlook on the underlying rating (SPUR) on Richmond Hospital Authority, Ind.'s debt, issued for Reid Hospital, to negative from stable based on a much-more-limited balance sheet than originally expected due primarily to weaker investment markets, coupled with a potentially slow return of the balance sheet to historical levels with the possibility of a weaker-than-expected performance over the next few years. The rating service also assigned its 'AA-' standard long-term rating, and stable outlook, to the authority's $97.075 million series 2009 fixed-rate hospital revenue bonds, issued for Reid Hospital&Health Care Services. At the same time, Standard&Poor's affirmed its 'AA-' SPUR on the authority's series

...CHICAGO (Standard & Poor's) Jan. 23, 2009--Standard & Poor's Ratings Services revised its outlook on the underlying rating (SPUR) on Richmond Hospital Authority, Ind.'s debt, issued for Reid Hospital, to negative from stable based on a much-more-limited balance sheet than originally expected due primarily to weaker investment markets, coupled with a potentially slow return of the balance sheet to historical levels with the possibility of a weaker-than-expected performance over the next few years. The rating service also assigned its '##-' standard long-term rating, and stable outlook, to the authority's $97.075 million series 2009 fixed-rate hospital revenue bonds, issued for Reid Hospital & Health Care Services. At the same time, Standard & Poor's affirmed its '##-' SPUR on the authority's series 2005A variable-rate demand bonds, issued for Reid Hospital, and its '###/A-1+' rating on the authority's series 2005B and 2005C variable-rate demand bonds, issued for Reid. The negative outlook...

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