Here is some of the latest healthcare ratings news, from Fitch Ratings and Moody's Investors Service:
Fitch Ratings has placed on "Rating Watch Positive" the following bonds currently rated 'A-' and issued on behalf of Prince William Health System in Manassas, Va.: $69,600,000 Industrial Development Authority of the City of Manassas, Virginia revenue bonds series 2002; $10,800,000 Industrial Development Authority of the County of Prince William, Virginia hospital revenue bonds series 1993.
Fitch Ratings has affirmed the underlying 'AA-' rating on approximately $98 million Delaware Health Facilities Authority revenue bonds issued on behalf of Bayhealth Medical Center. Bayhealth is a two-hospital system that consists of Kent General Hospital in Dover, Del., and Milford Memorial Hospital in Milford, Del. The Rating Outlook is Stable.
Moody's Investors Service has placed Maple Grove Hospital's A3 bond rating on Watchlist for possible downgrade, affecting $143.6 million of Series 2007 bonds issued by the City of Maple Grove, Minn. MGH is a joint-venture between North Memorial Health Care and A2-rated Fairview Health System.
Fitch Ratings has assigned an underlying 'AA-' rating on the expected issuance of approximately $223 million of South Carolina Jobs-Economic Development Authority hospital refunding bonds, series A-D, on behalf of AnMed Health. AnMed Health is comprised of three separately licensed facilities consisting located in Anderson, S.C. The Rating Outlook is Stable.
Fitch Ratings has affirmed the long-term rating of 'A+' to the Hospital Authority of Houston County revenue anticipation certificates series 2007 issued for Houston Healthcare Inc. in Warner Robins, Ga. Houston Healthcare is a regional referral network consisting of Houston Medical Center, Perry Hospital, and the Houston Heart Institute. The Rating Outlook is Stable.
Moody's Investors Service has placed on Watchlist for possible downgrade the Baa3 long-term bond rating assigned to Mercy Memorial Hospital Corp. Obligated Group's $48 million of outstanding Series 2006 fixed rate bonds issued by the Monroe County (Mich.) Hospital Finance Authority. The action is based on a continuation operating losses in the first six months of fiscal year 2009 and a very low operating cash flow margin of 3.8% annualized.
Fitch Ratings has assigned an 'A-' rating to approximately $95 million of Butler County Hospital Authority's variable-rate hospital revenue bonds, series 2009A, and hospital revenue bonds, series 2009B, issued on behalf of Butler Health System (Penn). Fitch also has assigned an 'A-' rating to BHS' approximately $18.4 million outstanding 1993A and 1993B bonds. Proceeds will be used to fund a major hospital expansion project and various facility renovations. The Rating Outlook is Stable.
Moody's Investors Service has placed North Memorial Health Care's (Robbinsdale, Minn.) A3 bond rating on Watchlist for possible downgrade, affecting $53.8 million of outstanding bonds. The action followed the receipt of unaudited FY 2008 financials that reflect a material decline in operating performance and balance sheet resources.
Fitch Ratings affirms the 'AA' long-term rating and assigns a 'F1+' short-term rating to the North Carolina Medical Care Commission's $45,505,000, variable-rate demand healthcare facilities revenue bonds, series 2009B. The proceeds of the series 2009B revenue bonds will be used to finance a portion of the construction and equipping of heart hospital addition at FirstHealth Moore Regional Hospital.