Pharma Investments, Ventures & Law Weekly
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Fitch Ratings
Fitch Affirms Baptist Homes of Indiana at 'A-'; Outlook Stable
April 5th, 2009
Fitch Ratings affirms the Indiana Health and Educational Facility Financing Authority's approximately $46 million revenue bonds, series 2005 (Baptist Homes of Indiana) at 'A-'. The Rating Outlook is Stable. The affirmation is supported by Baptist Homes of Indiana's (BHI) continued solid financial profile, strong liquidity relative to expenses, and a strong management team. In unaudited fiscal 2008 (ended Dec. 31), BHI's operating ratio and excess margin were 91.9% and 9.7%, which are at or above Fitch's 'A' category medians of 91.7% and 5.9%, respectively. In the prior five fiscal years, the operating ratio averaged 85.3% and the excess margin averaged 14.9%, which...
Source: Pharma Investments, Ventures & Law Weekly (2009-04-05)
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