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California Health Facilities Financing Authority Kaiser Permanente; System Apr 11
Standard & Poors, April 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A+/A-1' rating to the $204.5 million series 2011A, 2011B, 2011C, and 2011D bonds, issued by the California Health Facilities Financing Authority on behalf of Kaiser Permanente (Kaiser). At the same time, we affirmed our 'A+/A-1', 'A+', and 'A-1' ratings on Kaiser's outstanding bonds (various issues). The outlook on all long-term ratings is stable. Management is considering a private placement for the 2011A, 2011B, 2011C, and 2011D series, which will be floating-rate notes; management reports that there are no cross-default provisions and no acceleration events. Kaiser is also planning to convert its 2002E bonds to variable-rate demand obligations backed by self-liquidity, its 2004I bonds to commercial paper (CP), and its 2009E-1 and 2009E-2 bonds...
Companies mentioned in this report are: Kaiser Permanente,California Hlth Facs Fin Auth
Action: New Rating
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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