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Article: S&P Affirms South Fork Municipal Authority, PA/UPMC Lee Hospital A-.
- Article from:
- PR Newswire
- Article date:
- May 20, 1999
CopyrightCOPYRIGHT 1999 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, May 20 /PRNewswire/ -- Standard & Poor's today affirmed its single-'A'-minus rating to South Fork Municipal Authority, Pa.'s $14.35 revenue bonds series 1993A, issued for UPMC Lee Hospital (formerly known as Lee Hospital).
The rating reflects:
-- The current and anticipated benefits of Lee becoming a member of the
UPMC Health System (UPMC);
-- Lee's adequate margins and debt service coverage combined with moderate
dilution from a non-obligated physician subsidiary, combined with
improving interim results; and