Fitch Affirms Dartmouth-Hitchcock Obligated Group's (New Hampshire) Revs at 'A+'; Outlook Stable (Business Wire) and A.M. Best Downgrades Ratings of Surety Company of the Pacific and Places Under Review With Negative Implications (Business Wire)

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City of Industry, CA --(www.USEquityNews.com)-- 11/26/2008 - Upgrades/Downgrades industry alert provided by U.S. Equity News. NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed an underlying rating of 'A+' on approximately $311 million revenue bonds issued on behalf of the Dartmouth-Hitchcock Obligated Group (DHOG). The Rating Outlook is Stable.
The affirmation of the 'A+' underlying rating reflects DHOG's strong market position as well as its solid clinical reputation and physician alignment. Mary Hitchcock Memorial Hospital (MHMH) is the principal provider of highly specialized tertiary care in a large geographic area spanning Boston, MA and Burlington, VT. DHOG, which includes 369-staffed bed MHMH, 820-physician Dartmouth-Hitchcock Clinic (DHC) and two smaller community hospitals in Vermont and Massachusetts, captured healthy volume growth in the area. [Read the full article]


OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has downgraded the financial strength rating (FSR) to B (Fair) from B+ (Good) and issuer credit rating (ICR) to from of Surety Company of the Pacific (SCP) (Encino, CA). Both ratings have been placed under review with negative implications. The ratings downgrade is due to the continued and substantial decrease in capital through September 30, 2008, which was driven by operating losses. As a result, current capital levels fall below A.M. Bests minimum requirements for a secure rating. Furthermore, SCP disclosed in
its third quarter statutory filings that it has reached an agreement to be sold to HCC Insurance Holdings, Inc. (Houston, TX) (HCC), subject to regulatory approval. Consequently, the ratings have been placed under review until the transaction closes, which is expected in the very near future. [Read the full article]

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded to 'A' from 'A+' the rating on Beaumont Hospital Obligated Group's (Beaumont) expected issuance of approximately $169.5 million of series 2008V hospital revenue and refunding bonds
through the City of Royal Oak Michigan Hospital Finance Authority. In addition, Fitch downgrades to 'A' from 'A+' approximately $620 million of bonds issued on behalf of Beaumont (all of which have been issued through the City of Royal Oak Hospital Finance Authority). The Rating Outlook is revised to Negative from Stable.Due to the volatility and uncertainties in the credit markets, Beaumont's plan of finance has been restructured since Fitch's rating action on Aug. 19, 2008 (see Fitch's rating action commentary dated Aug. 19, 2008 at www.fitchratings.com). [Read the full article]

CHICAGO (AP) -- Fitch Ratings on Tuesday affirmed its debt ratings and raised its rating outlook on Morgan Stanley, saying the investment bank has "demonstrated its ability to manage through very difficult markets raising capital from government programs and from private investors." Fitch raised its rating outlook to stable from negative and kept its long-term issuer default rating and its long-term senior debt ratings at "A."Furthermore, Fitch said it expects to assign ratings of "AAA/F1+," its top ratings, to senior debt issued by Morgan Stanley under the Federal Deposit Insurance Corp.'s Temporary Liquidity Guarantee Program. Morgan Stanley is currently in the market with several issues that will comply with the FDIC program, which it called "one of the key programs put forth by the U.S. [Read the full article]

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