California Statewide Communities Development Authority Children's Hospital Los Angeles; Hospital; Joint Criteria May 11

Standard & Poors, May 2011

Abstract
Standard & Poor's Ratings Services affirmed its 'BBB+' long-term rating and underlying rating (SPUR) on Children's Hospital Los Angeles (CHLA), Calif.'s series 2010A fixed-rate revenue bonds, series 2007 fixed-rate private placement revenue bonds, and series 1999 certificates of participation, issued by the California Statewide Communities Development Authority and the California Health Facilities Financing Authority. The outlook remains stable. Standard & Poor's also affirmed its 'BBB+' SPUR and its 'AAA/A-1' joint criteria rating on the authority's series 2010B variable-rate demand obligations (VRDOs). The 'AAA' rating reflects the application of our joint support criteria based on CHLA's 'BBB+' SPUR and Bank of America (A+/Negative/A-1), the direct-pay letter of credit (LOC) provider. The short-term rating is based entirely on Bank of America. The...

Companies mentioned in this report are:
- Children's Hosp Los Angeles
- California Hlth Facs Fincg Auth
- California Statewide Communities Dev Auth

Action: Affirmed

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

- Children's Hosp Los Angeles
- California Hlth Facs Fincg Auth
- California Statewide Communities Dev Auth

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