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Fitch Affirms Siskin Hospital (Tennessee) at 'A-'; Outlook Stable

Published in Healthcare Mergers, Acquisitions and Ventures Week, January 19th, 2008

Fitch Ratings has affirmed the underlying 'A-' rating on Chattanooga Health, Educational, and Housing Facility Board, TN's outstanding $6.4 million variable-rate demand bonds, series 1990A (Siskin Hospital for Physical Rehabilitation, Inc.). Fitch was not asked to provide a short-term rating on the series 1990A bonds. The Rating Outlook is Stable.

The rating affirmation is based primarily on Siskin Hospital for Physical Rehabilitation's (Siskin) excellent balance sheet and favorable competitive position. As of June 30, 2007, Siskin had $44.1 million of unrestricted cash and investments equating to 580.6 days cash on hand and 128% cash-to-debt. Siskin continues to...

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