California Statewide Communities Development Authority Community Hospital Of The Monterey Peninsula; Joint Criteria May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services assigned its 'AAA/A-1+ rating to California Statewide Communities Development Authority's health facilities revenue bonds series 2011B, issued on behalf of Community Hospital of Monterey Peninsula. The 'AAA' long-term component of the rating is based on the application of joint criteria (assuming low correlation) between the irrevocable direct-pay letter of credit (LOC) provided by U.S. Bank N.A. (AA-/A-1+) and the obligor, and reflects our opinion of the likelihood that bondholders will receive interest and principal payments when due if they do not exercise the put option. The 'A-1+' short-term component of the rating is based upon our short-term issuer credit rating on U.S. Bank N.A., and reflects our opinion of the likelihood that bondholders will receive...

Companies mentioned in this report are:
- Community Hosp of the Monterey Peninsula
- 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

- Community Hosp of the Monterey Peninsula
- California Statewide Communities Dev Auth

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