Summary: California Statewide Communities Development Authority Community Hospital Of The Monterey Peninsula; Hospital; Joint Criteria Apr 11
Standard & Poors, April 2011
Abstract
Standard & Poor's Ratings Services assigned its 'A+' long-term rating to California Statewide Communities Development Authority's series 2011A and 2011 B variable-rate demand revenue bonds, issued on behalf of the Community Hospital of the Monterey Peninsula (CHOMP). A joint rating based on a letter of credit with US Bank National Association is anticipated, but has not yet been assigned for the series 2011B bonds. Furthermore, Standard & Poor's affirmed its 'A+' long-term and underlying rating (SPUR) on CHOMP's outstanding debt. In our view, CHOMP continues to benefit from a very good business position, generating solid operating margins and good coverage. The outlook is stable. More specifically, the rating is based on our view of CHOMP's: Continued positive operating results, largely...
Companies mentioned in this report are:
- Community Hosp of the Monterey Peninsula
- California Statewide Communities Dev Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Community Hosp of the Monterey Peninsula
- California Statewide Communities Dev Auth
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