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September 06, 1993|From Times Staff and Wire Reports

S&P Lowers Rating on National Medical: Standard & Poor lowered 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 downgraded the National Medical debt from triple B-minus to double B. In downgrading the debt, S&P said the investigation adds to Santa Monica-based firm's operating challenges and increases concern about the possible impact of civil and potential criminal action against the company. These challenges overshadow the company's "current substantial cash generating ability," S&P said.

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