Winona Health Services, MN Revenue Bond Outlook Revised To Negative On Ongoing Operating Losses

Stocks and Financial Services Press Releases Tuesday September 19, 2017 08:48
CENTENNIAL--19 Sep--S&P Global Ratings

CENTENNIAL (S&P Global Ratings) Sept. 18, 2017--S&P Global Ratings revised its outlook to negative from stable and affirmed its 'BBB' long-term rating on Winona, Minn.'s series 2007 and 2012 revenue bonds, issued for Winona Health Obligated Group, which includes Winona Health Services (WHS). "The negative outlook reflects our view of WHS's ongoing operating losses through the first nine months of fiscal 2017," said S&P Global Ratings credit analyst Wendy Towber. "While management has a comprehensive strategic plan as well as a turnaround plan in place to stem these losses in fiscal 2018, we believe it could be difficult to achieve their goals within the outlook period, given the nature of the ongoing operating challenges," Ms. Towber added. Winona Health Obligated Group includes WHS, the organization's hospital and employed physician clinics; Winona Senior Services Inc., a skilled-nursing and assisted-living facility; and Winona Health Foundation.

Metrics cited in this report are based on audited financial statements and unaudited nine-month interim statements ending June 30, 2017. Certain terms used in this report, particularly certain adjectives used to express our view on rating relevant factors, have specific meanings ascribed to them in our criteria, and should therefore be read in conjunction with such criteria. Please see Ratings Criteria at for further information. Complete ratings information is available to subscribers of RatingsDirect at and at All ratings affected by this rating action can be found on the S&P Global Ratings' public website at Use the Ratings search box located in the left column.

Latest Press Release

mai welcomes real estate developer CMC on November 19

Market for Alternative Investment (mai) will list Chaoprayamahanakorn pcl, a leading real estate developer onNovember 19, under the ticker symbol "CMC". The company has a market capitalization at its initial public offering (IPO) of THB 3.00 billion...

KTC - Chilito Mexican Grill - Farm Factory provide members special privileges for payments made using QR Pay in the KTC Mobile app.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, provides KTC VISA and KTC MasterCard credit card members who make payments through KTC QR Pay in the "KTC Mobile" app worth Bt. 300 or more...

Photo Release: KBank opens new flagship branch and THE WISDOM Lounge at ICONSIAM

Mr. Wirawat Panthawangkul (3rd from left), KBank Senior Executive Vice President, and Ms. Chadatip Chutrakul (4th from left), Director of ICONSIAM Co., Ltd., and Chief Executive Officer of Siam Piwat Co., Ltd., participated in the opening ceremony of...

Photo Release: CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

Tengku Dato' Sri Zafrul Aziz, Group CEO of CIMB Group (right), and Brad Garlinghouse, Ripple CEO (left) commemorating the strategic collaboration between CIMB Group and Ripple to power instant payments across ASEAN at the Singapore FinTech festival 2018...

CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

CIMB is one of the first banks to leverage blockchain technology to tap into region's USD120 billion remittance business CIMB Group ("CIMB" or "the Group") and Ripple have entered into a strategic collaboration to enable instant cross border payments...

Related Topics