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MOODY'S UPGRADES RATING FOR ALBERT EINSTEIN MEDICAL CENTER TO A FROM BAA1

MOODY'S UPGRADES RATING FOR ALBERT EINSTEIN MEDICAL CENTER
 TO A FROM BAA1
 NEW YORK, Dec. 4 /PRNewswire/ -- Effective today, Moody's Investors Service upgraded the healthcare revenue bond rating for Albert Einstein Medical Center in Philadelphia to A from Baa1. The rating applies to the series 1989 and the proposed new series 1991 offering both through the Philadelphia Hospitals and Higher Education Facilities Authority. Moody's said; "This large medical center has demonstrated an impressive growth in volume due primarily to the strengthening of its services and the addition of physician staff. Financial performance has been stabilized since the sale of its former Mt. Sinai facility several years ago and also because of the growth of volume and recently improved funding from the State's Medicaid program. However, performance continues to fluctuate and is still vulnerable to potential changes in Medicaid reimbursement. The other major credit concern is the very competitive environment both from many other tertiary referral centers and smaller community hospitals."
 -0- 12/4/91
 /CONTACT: John Goetz, vice president of Moody's, 212-553-0930/ CO: Albert Einstein Medical Center ST: Pennsylvania IN: HEA SU: RTG


SM-OS -- NY046 -- 9168 12/04/91 11:45 EST
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Publication:PR Newswire
Date:Dec 4, 1991
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