MYRTLE WERTH MEDICAL CENTER (WIS.) 'BBB-' SERIES A BONDS AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --
MYRTLE WERTH MEDICAL CENTER (WIS.) 'BBB-' SERIES A BONDS
AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --
NEW YORK, Nov. 25 /PRNewswire/ -- Myrtle Werth Medical Center's $4.5 million hospital facility revenue bonds series A are affirmed at "BBB-" by Fitch. The credit trend is stable. The bonds were issued in 1978 by the city of Menomonie, Wis.
Myrtle Werth Medical Center operates 55 acute care beds. The sole provider in its primary service area, the medical center has consistent operating income performance. The leverage position is favorable with debt-to-capitalization of less than 40 percent and coverage of debt service at 3.1 times. Current unrestricted cash positions can cover debt service over two times and trustee-held cash nearly equals total debt outstanding. Concerns for this credit still center around declining inpatient trends and low occupancy levels, reflective in part of a continuing shift to outpatient services. In addition, despite the introduction of two new physicians and the relocation of two businesses to the area, the relatively small size of the medical staff and the service area is still a concern.
/NOTE TO EDITORS: For a copy of the related surveillance report, call Market Services, 800-75-FITCH./
/CONTACT: Ila Griffith Forster of Fitch, 212-908-0553/ CO: Myrtle Werth Medical Center ST: Wisconsin IN: HEA SU: RTG FC -- NY034 -- 6767 11/25/91 10:56 EST