A.M. Best Assigns Rating to Baptist Healthcare System, Inc. and Affirms Ratings of Bluegrass Family Health, Inc.OLDWICK, N.J. -- A.M. Best Co. has assigned an issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "aa-" to Baptist Healthcare System, Inc. (BHS BHS beta-hemolytic streptococci. ) (Louisville, KY). A.M. Best has also affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of B++ (Good) and ICR of "bbb+" of Bluegrass bluegrass, any species of the large and widely distributed genus Poa, chiefly range and pasture grasses of economic importance in temperate and cool regions. In general, bluegrasses are perennial with fine-leaved foliage that is bluish green in some species. Family Health, Inc. (BFH BFH Bundesfinanzhof BFH Battlefield Heroes (gaming) BFH Bus Fare Home BFH Benign Familial Hematuria BFH Benign Fibrous Histiocytoma BFH Bitch from Hell BFH Big Freaking Hammer ) (Lexington, KY). The outlook for all ratings is stable. BHS' rating is driven by its superior liquidity with 236 days cash on hand and conservative financial leverage at 29% (both year-end 2006) and consistently good operating margins in the 2%-4% range. A.M. Best does not expect any significant changes to either BHS' financial profile or earnings outlook in the medium term. BHS is an integrated health care integrated health care, n healthcare services combining the best of conventional and complementary health care. delivery system, which operates five hospitals in different parts of Kentucky (i.e., Louisville, Lexington, Paducah, Corbin and LaGrange). BHS also owns BFH, a health care insurance company. A.M. Best considers the integration of BFH into BHS very beneficial, given the payor mix stability provided by BFH to BHS, steerage steer·age n. 1. The act or practice of steering. 2. Nautical a. The effect of the helm on a ship. b. The steering apparatus of a ship. c. of patients to system facilities and the health plan's favorable earnings trend. In return, BFH receives meaningful rating enhancement as part of BHS, which is reflected in the current ratings. Future capital projects in the preliminary planning stage, associated mainly with the Louisville market area, could potentially strain system leverage and reduce liquidity. A.M. Best's concerns are mitigated by BHS' conservative management style, superior financial profile and forecast demand of health care services demonstrated by occupancy and population growth rates in the area. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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