Standard&Poor's Ratings Services assigned its 'A+' rating to Lee Memorial Health System, Fla.'s $59.2 million series 2005A hospital revenue refunding bonds, issued by Lee Memorial Health System Board of Directors. In addition, Standard&Poor's affirmed its 'A+' underlying rating (SPUR) on Lee Memorial's outstanding long-term debt and its 'A-1' short-term rating on the system's debt. The outlook is stable. The 'A+' rating reflects: The system's dominant market share as one of only two health care providers in Lee County, Fla., with about a 68% share of admissions, combined with solid volume growth in the last several years; Solid liquidity levels, with unrestricted cash and investments totaling more than $450 million, equal to about 306 days' operating expenses
