Standard & Poor's Ratings Services affirmed its 'A-' long-term and underlying ratings (SPUR) on Cal-Mortgage Insurance Program's debt outstanding. The bonds were issued by California Health Facilities Financing Authority and California Statewide Communities Development Authority, among others. The outlook remains negative. The ratings are based on California's general obligation (GO) debt rating, which Standard & Poor's recently lowered to 'A-'. The rating on the Cal-Mortgage Insurance Program's debt is based solely on the state's rating and does not reflect any underlying changes to the Cal-Mortgage program. The Cal-Mortgage program, since its inception in 1968, has helped health care facilities in California gain access to tax-exempt financing markets at borrowing costs comparable to those of the state. The bonds are guaranteed...
Companies mentioned in this report are:
- Lincoln Glen Manor
- California Hlth Facs Fincg Auth
- California Statewide Communities Dev Auth
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