Standard&Poor's Ratings Services affirmed its 'A-' long-term rating on South Dakota Health and Educational Facilities Authority's series 1994 and 2005 bonds, issued for Huron Regional Medical Center Inc. (Huron). Although it is unusual to have a critical-access hospital's bonds rated in the 'A' category, our view of Huron's consistently solid debt service coverage, very strong balance sheet, and good market share support the 'A-' rating. The outlook is stable. More specifically, credit strengths supporting the rating are our opinion of Huron's: Exceptionally strong liquidity at March 31, 2011 (unaudited), with 663 days' cash on hand and cash to debt of 7.4x; Consistently sound maximum annual debt service (MADS) coverage ranging from 5x to 7x over the last several
