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SUMMA HEALTH $34.5 MILLION REVENUES 'A+' BY FITCH; TREND UNCERTAIN -- FITCH FINANCIAL WIRE --

 NEW YORK, May 10 /PRNewswire/ -- The Akron, Bath, and Copley Joint Hospital District's, OH, approximately $34.5 million Hospital Facilities Revenue Bonds, Series 1993A, to be issued for Summa Health System are rated 'A+' by Fitch. The 'A+' Series 1992A&B parity bonds issued in November 1992 are affirmed. The credit trend is changed to uncertain from stable due to slower- than-expected benefits of the merger consolidation, now more crucial in light of the unanticipated level of losses, and the unknown impact of a newly announced rate increase, the second in just six months.
 Bond proceeds will be used to finance various projects at the system's two hospitals. The bonds are expected to be sold on a negotiated basis by The First Boston Corp. during the week of May 24.
 Summa Health System's 'A+' rating is maintained due to the system's dominant market position and substantial financial strength, which is largely attributable to the sound financial results achieved at Akron City Hospital. After full consolidation, the system should be able to build on its solid physician base and strengthen its stance in a very competitive market.
 Concerns include continuing larger-than-budgeted operating losses at St. Thomas, which have negatively affected Summa's financial operating performance, and a worsening payor mix.
 Summa Health System is the result of a merger of two Akron, Ohio hospitals -- Akron City Hospital and St. Thomas Medical Center. Combined, the two facilities operate 673 acute-care beds.
 -0- 5/10/93
 /CONTACT: Jerry Solomon, 212-908-0557 or Fred Martucci, 212-908-0554, both for Fitch/


CO: Summa Health System ST: Ohio IN: HEA SU: RTG

LR -- NY073 -- 6557 05/10/93 14:30 EDT
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Date:May 10, 1993
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