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Cal-Mortgage Insurance Program's Bond Rating Raised To 'A' on State Ties Aug 04
Standard & Poors, Aug 2004
Abstract
SAN FRANCISCO (Standard & Poor's) Aug. 25, 2004--Standard & Poor's Ratings Services raised its rating to 'A' from 'BBB' on the Cal-Mortgage Insurance Program's outstanding debt issued by California Health Facilities Financing Authority and California Statewide Communities Development Authority, among others, and removed the rating from CreditWatch, where it had been placed March 3, 2004. The rating change is based on the recent upgrade of the state of California's GO rating to 'A' from 'BBB'. The outlook is stable. 'The raised rating on the Cal-Mortgage Insurance Program's debt is based solely on California's rating and does not reflect any underlying changes to the program,' said Standard & Poor's credit analyst James Cortez. The bonds are guaranteed by the program's Health...
Companies mentioned in this report are: Asian Hlth Svcs,California Hlth Facs Fin Auth
Action: CreditWatch Update
Action: Upgraded
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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