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S&P adjusts KH outlook to negative
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Standard & Poor’s (S&P) recently adjusted its outlook on KershawHealth’s finances from “stable” to “negative” while still affirming its long-held “BBB” investment-grade rating. KershawHealth Vice President and COO/CFO Mike Bunch announced the downgrade during a meeting of the KershawHealth Board of Trustee’s finance committee Thursday. According to S&P, the “BBB” rating reflected its assessment of KershawHealth’s: • good business position, as defined by a more than 50 percent market share of the Kershaw County primary service area, and growing share of its three-county secondary market; • strong balance sheet metrics for the rating level, including low leverage at 22 percent and solid cash to debt of 175 percent; and • the May 2011 signing of a nonexclusive letter of intent to explore collaborative opportunities with Palmetto Health.