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Fitch Ratings

Fitch Upgrades Rehoboth McKinley Christian Health NM Bonds to 'B'; Outlook Stable

Published in Hospital Law Weekly, November 13th, 2008

Fitch Ratings has upgraded the rating on approximately $7.56 million of New Mexico Hospital Equipment Loan Council hospital facility improvement and refunding revenue bonds (Rehoboth McKinley Christian Hospital Project), series 2007A and 2007A-T, to 'B' from 'B-'. The Rating Outlook is Stable.

The upgrade is based on Rehoboth McKinley Christian Hospital's (RMCH) continued financial improvements as demonstrated by three years of operating profitability, a dominant market share and Medicare-designated sole community provider status, adequate debt service coverage, and improved management over the last three years. RMCH posted an operating profit of $246,000 for unaudited...

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