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Article: Columbia/HCA Healthcare Corp.'s Ratings Affirmed by S&P
- Article from:
- PR Newswire
- Article date:
- February 9, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, Feb. 9 /PRNewswire/ -- Standard & Poor's today affirmed its ratings on Columbia/HCA Healthcare Corp. and affiliated companies following the announcement of a sizable fourth quarter loss (see list of ratings below). The company's performance is fully consistent with the scenario that Standard & Poor's anticipated when it lowered Columbia/HCA's ratings to the triple-'B' category from the single-'A' category in November 1997. Although the write- off was marginally larger than expected, write-offs are merely accounting conventions and do not necessarily reflect cash flow generation or, ultimately, the health of a company.
The investment-grade ratings ...