S&P ups outlook to positive on Memorial Health Services, Calif., debt

Standard & Poor's said it revised the outlook to positive and affirmed its dual A+/A-1 rating on the $150 million series 1991 and 1994 debt and its long-term rating on the $200 million series 2003 debt issued by Long Beach, Calif.; the California Health Facilities Finance Authority; and the California Statewide Communities Development Authority, on behalf of Memorial Health Services.

"The outlook revision is based on sustained strong operating results and a solid balance sheet," S&P credit analyst Keith Dickinson said in a statement. "MHS has increased liquidity and reduced leverage while making significant capital project investments."

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