Standard&Poor's Ratings Services lowered its long-term rating to 'C' from 'CCC' on California Health Facilities Finance Authority's series 1993 revenue bonds issued on behalf of Downey Community Hospital, currently doing business as Downey Regional Medical Center. The outlook is negative. At the same time, we suspended the rating due to management's inability to provide any audited or unaudited financial statements for fiscals 2009, 2008, or 2007. We understand that management doesn't expect to be able to provide current financial statements until January 2010. We will consider reinstating the rating if audited financial information becomes available. The rating action reflects our concern over Downey's continued financial instability over recent years. Downey filed for reorganization under Chapter 11 of the
