...Standard & Poor's Ratings Services affirmed its '##+' long-term ratings and '##+/A-1+' dual ratings on various issuers' revenue bonds, issued for IHC Health Services Inc., the obligated group of Intermountain Health Care (Intermountain). The outlook is stable. The '##+' ratings reflect Intermountain's strong business position in the economically robust state of Utah, consistently strong financial performance (see table), considerable financial flexibility especially in its rates, and a balance sheet that we believe is sound but not stellar for the rating. Intermountain performed extraordinarily well on operations in 2008 and 2009, generating strong operating cash flow, which offset soft investment performance and continued high capital spending. Intermountain's operating cash flow is not expected to remain as strong for 2010 and beyond, but we believe that operations will remain robust enough to support capital plans, pension funding needs, and planned additional debt at the current rating...
