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California Statewide Communities Development Authority Catholic Healthcare West; Joint Criteria; System Apr 08
Standard & Poors, April 2008
Abstract
Standard & Poor's Ratings Services assigned its 'A' long-term rating to California Statewide Communities Development Authority's (CSCDA) series 2008A and 2008B uninsured fixed-rate bonds, issued for Catholic Healthcare West (CHW). In addition, Standard & Poor's affirmed its 'A' long-term ratings and 'A' underlying ratings (SPURs) on CHW's approximately $3.6 billion (various series and various issuers) outstanding bonds. The outlook is positive. The series 2008 bonds are being issued to current refund a small part of its $1.7 billion in outstanding auction-rate bonds. The issues specifically affected are CSCDA's series 2007I and 2007J. CHW is also in the process of restructuring approximately $1.3 billion of outstanding auction-rate bonds, some of which will be converted into insured fixed-rate bonds ($534.95 million), retired...
Companies mentioned in this report are: Dignity Hlth,California Statewide Communities Dev 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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