WASHINGTON-Standard & Poor's Corp. downgraded $93.4 million worth of bonds of Howard University, Washington, from A+ to AA-, in part because of the fragile financial condition of Howard University Hospital. The hospital, which repr esents about 40% of combined university revenues, has lost money in four of the past five years, and expects losses of between $6 million and $9 million in fiscal 1995, New York-based Standard & Poor's said. Delayed Medicaid paymen ts from the District of Columbia, which provides 25% of the hospital's annual revenues, also played a role in the downgrading, as did the possibility of major changes at D.C. General Hospital that could affect the proportion of ind igent care Howard University Hospital must provide.
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