Standard & Poor’s last week revised its rating outlook to negative from stable on Doylestown Hospital Authority bonds issued for Doylestown Hospital. This outlook revision reflects concerns regarding the hospital’s “light financial profile for the rating, in particular flat revenue growth, and the effect of a planned issuance of additional debt within the next six months,” according to the rating agency. Standard & Poor’s affirmed its A-minus underlying rating on $71.3 million of debt. The hospital returned to profitability in fiscal 2007 after a $2.8 million operating loss in fiscal 2006. Moody’s Investors Service rates the Doylestown Hospital Authority A3, while Fitch Ratings has no underlying rating for it.
Doylestown Hospital Knocked
October 12, 2007, 5:51 p.m. EDT 1 Min Read
