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Fitch Affirms MedStar Health (Maryland) $889MM Revenue Bonds at 'A-'; Outlook Stable.

Publication: Wireless News
Publication Date: 12-SEP-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Fitch Ratings affirms the 'A-' rating on the outstanding $889 million MedStar Health (MedStar) revenue bonds issued by the District of Columbia and the Maryland Health and Higher Education Facilities Authority.

For certain issues, the rating is an underlying rating given without consideration of credit enhancement. The Rating Outlook is Stable.

The affirmation reflects MedStar's large and diversified revenue base, its leading market position in the region, sustained and consistent improvement in system profitability, and recognized clinical quality. In addition, MedStar has a strong management team that is committed to operational improvements to rationalize services and centralize business operations to promote MedStar's ongoing development as a system. Credit concerns include MedStar's weak liquidity ratios when compared to medians for the 'A' rated category, the competitive markets in which MedStar operates, and the uncertainties associated with health...

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