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BRIEFLY

Health Care

September 04, 1993|From Times Staff and Wire Reports

S&P Lowers Rating on National Medical: Standard & Poor's downgraded its rating on some $400 million of National Medical Enterprise Inc. senior debt, one week after federal agents raided NME offices and hospitals nationwide as part of a criminal investigation. S&P said it lowered the debt from triple B-minus to double B. The FBI had seized documents at NME's Santa Monica headquarters, regional offices in Dallas and Fairfax, Va., and nine of the company's 61 hospitals. S&P said the investigation adds to NME's operating challenges and increases concern about the impact of civil and potential criminal action against the company.

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