Standard&Poor's Ratings Services revised its outlook to positive from stable on Garfield County, Colo. and Colorado Health Facilities Authority's bonds, issued for the Valley View Hospital Assn. (VVHA). At the same time, we affirmed our 'BBB' long-term rating and underlying rating (SPUR) on revenue bonds issued for VVHA. The outlook revision reflects very strong operating income, good demographic trends, a very attractive facility, and bond proceeds available from a 2007 bond issue to complete remaining nonroutine capital needs. Should these trends continue over the next one to two years, Standard&Poor's could raise its rating. The 'BBB' rating reflects: Seven years of robust operating, excess, and EBIDA margins; Solid maximum annual debt service (MADS) coverage of 3.4x
