Standard&Poor's Ratings Services lowered its long-term rating to 'A+' from 'AA-' on the Richmond Hospital Authority, Ind.'s series 2009 fixed-rate bonds, issued on behalf of Reid Hospital. Standard&Poor's also lowered its underlying rating (SPUR) to 'A+' from 'AA-' on the authority's series 2005A variable-rate demand bonds, also issued for Reid Hospital. In addition, we have revised the outlook to stable from negative. The short-term component of the rating on the series 2005A bonds is based on a standby bond purchase agreement provided by JPMorgan Chase Bank N.A. (A-1+) that expires April 8, 2013. The downgrade is a result of a weaker-than-expected balance sheet coupled with operating pressures that, while expected, are hindering the rebound of the
