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Los Angeles County, CA November 2, 2004 Election
Smart Voter

Restore financial integrity to AV hospital

By Mathew Abraham

Candidate for Board of Directors; Antelope Valley Health Care District

This information is provided by the candidate
AVH lost over $8 million in 2003 and over $13 million in 2004.
After racking several years of profitable and succesful operating years, in 2003 under a new board and administration, the hospital lost over $8 million. As a result, Moody's downgraded the hospital's $64 million in bonds to Baaa1 from A3, a steep decline.

In 2004, the hospital announced that is operating losses were $13.4 million; there will almost surely be another downgrading of the bonds possibly to junk bond status.

Downgrading of bonds is critical because it increases the hospital's interest payments, reduces the debt capacity and the inability to borrow money if needed.

With such staggering losses, AVH will not be able to recruit doctors, buy needed life-saving equipments nor provide additional services or pay salary increases to employees.

AVH's financial condition is crtitical!!

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ca/la Created from information supplied by the candidate: September 7, 2004 22:11
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