On Dec. 15, 2006, Standard&Poor's Ratings Services revised its rating outlook on Brentwood, Tenn.-based hospital operator Community Health Systems Inc. to stable from positive. The outlook revision considers the $100 million increase in the size of its recent incremental bank loan to $400 million from $300 million, and the announcement earlier this week of a new five million share repurchase program. We now believe that the company's financial profile will not improve much, if at all, from current levels due to these actions and relatively weak industry conditions. All existing ratings on Community Health Systems Inc. and related entities, including the 'BB-' corporate credit rating, were affirmed. Total debt outstanding was $1.8 billion as of Sept. 30, 2006.
