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Cal-Mortgage Insurance Program; California Insured Hospital May 06
Standard & Poors, May 2006
Abstract
Standard & Poor's Ratings Services raised its rating to 'A+' from 'A' on the Cal-Mortgage Insurance Program's outstanding debt, issued by California Health Facilities Financing Authority and California Statewide Communities Development Authority, among others. The rating change is based on the recent upward rating action to 'A+' from 'A' on the state of California's GO debt. California's debt rating was raised based on the state's $7.5 billion surge in combined fiscals 2006-2007 revenues over January projections, leading to higher-than-expected general fund balance levels estimated for fiscal 2006 and projected for fiscal 2007. This substantial increase in revenues has led the state to estimate a reduction in its structural deficit to $2.5 billion, or 2.5% of expenditures, in fiscal 2007. The...
Action: Upgraded
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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