Standard&Poor's Ratings Services lowered its long-term rating and underlying rating (SPUR) to 'A' from 'A+' on Salem Hospital Regional Health Services, Ore.'s debt issued by Salem Hospital Facility Authority. The outlook is stable. In addition, Standard&Poor's affirmed its 'AAA/A-1+' and 'AAA/A-1' ratings on Salem Hospital's series 2008B and 2008C variable-rate demand bonds, respectively. The long-term component of the rating is based jointly (assuming low correlation) on the rating of the obligor and the letter of credit (LOC) provider, US Bank (series 2008B) and Bank of America (series 2008C). The short-term component of the rating is based solely on the short-term rating of the LOC provider. The rating action reflects our view of Salem's weak operating performance
