SAN FRANCISCO (Standard&Poor's) Nov. 11, 2004--Standard&Poor's Ratings Services assigned its 'AA-' rating to Salem Hospital Facility Authority, Ore.'s $125 million health revenue bonds, series 2004A and 2004B, issued for Salem Hospital. In addition, Standard&Poor's affirmed its rating on the authority's outstanding debt. The rating is based on the authority's excellent business position, growing market share, and solid operating performance. The outlook is stable. "Salem's financial performance has been solid, which is buttressed by its very good business position and its dominant and growing market share," Standard&Poor's credit analyst Geraldine Poon said. "Additionally, Salem has continued its strong operating performance with a 6.7% operating margin through the first 11 months of fiscal 2004."
