On Sept. 22, 2005, Standard&Poor's Ratings Services revised its outlook on Brentwood, Tenn.-based hospital operator Community Health Systems Inc. to positive from stable. Ratings on the company, including the 'BB-' corporate credit rating, were affirmed. The outlook revision reflects Community's solid EBITDA growth, and the prospects that its financial profile could improve over the next two years and be sustained at a level consistent with a higher rating. This progress may begin shortly because of the potential for a conversion of $287.5 million of debt to common equity in October 2005. Given that the company's common stock share price is currently comfortably above the $33.50 per share conversion price, the likelihood of a conversion is good. The speculative-grade
