Standard&Poor's Ratings Services affirmed its 'AA-' underlying rating (SPUR) on the Hospital Authority of Richmond, Ind.'s $87.5 million series 2005A weekly variable-rate demand obligation bonds and the authority's $87.5 million series 2005B-C seven-day auction-rate securities, all issued for Reid Hospital and Health Care Services, Ind. The outlook is stable. The rating reflects: Reid's strong regional business position as the only hospital in Wayne County, Ind., with more than an 80% market share in the primary service area and an increasing focus on tertiary services for the region; Very strong unrestricted liquidity of $294 million, equal to 649 days' cash on hand; Continued positive operating margins into fiscal 2005, despite softer volumes, with no less than 3x maximum annual
