POH bonds face possible downgrade after loss.

Crain's Detroit Business, January, 1999 by Barkholz, David

POH Medical Center in Pontiac faces a possible downgrade of $55.5 million in bond debt, following its first operating loss in 15 years. Moody's Investors Service Inc. in New York placed POH, formerly Pontiac Osteopathic Hospital, on its Watchlist last week for possible downgrade from its current status as Baa1.

POH thinks a downgrade would be unjustified, said Thomas Schilling, POH senior vice president of financial operations. Hospital management is scheduled to meet with Moody's analysts in two weeks to explain its financial performance and balance sheet, Schilling said. "We plan to return to a profitable state next year," he said. In fiscal 1998, which ended June 30, POH suffered its first operating loss since 1983: $1.1 million on revenue of $99...

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