NEW YORK - Standard & Poor's Ratings Services said it revised its outlook to stable from negative and affirmed its BB-plus long-term rating on Madison County, Idaho's series 2006 revenue certificates of participation (COPs), issued on behalf of Madison Memorial Hospital (MMH). The outlook is stable.
"After the rating was lowered last year due to persistent operating losses and a heavy debt load, operating results have improved because of considerable cost controls and more recent utilization increases," said Standard & Poor's credit analyst Geraldine Poon. "Due in part to improvements in accounts receivable, liquidity has also improved," she added.
MMH is a 69-bed staffed hospital located in Rexburg, Idaho, 30 miles north of Idaho Falls and 90 miles south of Yellowstone. Although Rexburg's population is relatively small, the hospital's greater service area includes more than 150,000 people.