SAN FRANCISCO (Standard&Poor's) Sept. 19, 2006--Standard&Poor's Ratings Services lowered its long-term and underlying rating (SPUR) to 'A+' from 'AA-' on Salem Hospital Facility Authority, Ore.'s $163.4 million health revenue bonds, issued for Salem Hospital, and assigned its 'A+' rating to the authority's $120 million 2006 bonds. The lowered rating reflects the strain the new issuance will place on the hospital's credit profile. The outlook is stable. "While the organization continues to benefit from a strong market position and a good management team, which together have contributed to sound operating performance, growing cash flow, and a strengthening of the balance sheet, the considerable issuance will materially change the hospital's credit profile," said Standard&Poor's credit analyst
