Standard&Poor's Ratings Services raised its underlying rating (SPUR) to 'BBB' from 'BBB-' on Northern Hospital District of Surry County, N.C.'s outstanding bonds, reflecting: A balance sheet that is characterized by good liquidity despite ample capital spending and moderate debt levels; Respectable debt service coverage driven by profitability, which has been largely stable since the last bond issue, except in 2002; and A solidified business position in Surry County, its local primary service area. Limiting factors include general concerns associated with this smaller hospital, such as a limited medical staff, service area out-migration, and competition from tertiary providers. Northern Hospital District of Surry County is a 100-staffed-bed general acute-care hospital located in Mount Airy, the northwestern region of North
