Standard&Poor's Ratings Services affirmed its 'BBB' long-term rating on Northern Hospital District of Surry County, N.C.'s series 2008, 2001, and 1999 revenue bonds. The rating outlook remains stable. A revenue pledge secures the bonds and the hospital has no swaps outstanding. The rating reflects our assessment of the hospital's: Several years of solid operating performance, generating sound coverage though performance in fiscal 2009 was lighter than that of prior years' results; Solid balance sheet as measured by 190 days' cash on hand as of March 31, 2010; and Stable and focused management team. In our opinion, partially offsetting rating factors include: Two years of volume softness that has continued through the six-month-interim period ended March 31, 2010, which
