Henry Mayo Newhall Hospital, CA Revenue Outlook Revised To Negative From Stable On Weaker Operating Performance

Stocks and Financial Services Press Releases Wednesday March 28, 2018 10:10
SAN FRANCISCO--28 Mar--S&P Global Ratings

SAN FRANCISCO (S&P Global Ratings) March 27, 2018-- S&P Global Ratings revised its outlook to negative and affirmed its 'BBB-' rating on Henry Mayo Newhall Hospital (Henry Mayo), Calif.'s $110 million series 2017 revenue bonds and $70 million series 2014 revenue bonds, issued by the California Public Finance Agency and California Statewide Communities Development Authority.

"The outlook revision reflects our view of Henry Mayo's vulnerable financial profile, more specifically, its weakened operating performance in fiscal 2017, although it rebounded through the four month interim period ended Jan. 31, 2018," said S&P Global Ratings credit analyst Melanie Her. "We view any weaknesses in financial performance during a period where Henry Mayo is undertaking on a large multi-year construction project brings additional risk to the already challenged balance sheet and financial profile," Ms. Her added.

Henry Mayo is a 238-bed acute-care hospital that provides a broad range of services and is located in the community of Valencia in the city of Santa Clarita, about 35 miles northwest of Los Angeles.

Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at www.standardandpoors.com for further information. Complete ratings information is available to subscribers of RatingsDirect at www.capitaliq.com. All ratings affected by this rating action can be found on the S&P Global Ratings' public website at www.standardandpoors.com. Use the Ratings search box located in the left column.

Latest Press Release

SET and IPPD join hands to foster research on sustainable development

The Stock Exchange of Thailand (SET) and The Institute of Public Policy and Development (IPPD), under the Thai government think tank, signed a memorandum of understanding (MoU) to jointly conduct insightful and practical researches to benefit the...

Photo Release: Outstanding Women Leaders for Green Growth Award

Recently, at Grand Hyatt Erawan Hotel, Ms. Kattiya Indaravijaya, KBank President, received the "2019 Outstanding Women Leaders for Green Growth Award" for being an exemplary role model in developing businesses which are environmental friendly and an...

Mastercard Strengthens its Leading Position in Real-Time Payments in Asia Pacific with Increased Focus on Thailand

Global payments and technology leader is bringing further innovation to Thailand as part of its push to advance the regional digital payments agenda Today, at the Bangkok Fintech Fair 2019, Mastercard announced a commitment to deliver a growing suite of...

Ultra Sale on Tokinex Completed in 35 Seconds

Tokinex, the Bitfinex and Ethfinex token sale platform, today announces the successful completion of its 5m USD token sale of Ultra (UOS) in just 35 seconds. Ultra is a protocol and platform positioned to disrupt the $140bn gaming industry by using...

Photo Release: Mastercard Presents its Leading Position in Real-Time Payments at the Bangkok Fintech Fair 2019

Recently, at the Bangkok Fintech Fair 2019, Mastercard announced a commitment to deliver a growing suite of real-time and digital payments solutions across Asia Pacific through its regional real-time payments hub, with data centers in Thailand and...

Related Topics