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Cal-Mortgage Insurance Progam's Debt Rating Lowered To 'A'; Outlook Stable Feb 09
Standard & Poors, Feb 2009
Abstract
SAN FRANCISCO (Standard & Poor's) Feb. 12, 2009-- Standard & Poor's Ratings Services lowered its rating on the Cal-Mortgage Insurance Program's outstanding debt to 'A' from 'A+' and removed the rating from CreditWatch with negative implications, where it was placed Dec. 11, 2008. The outlook is stable. The bonds were issued by California Health Facilities Financing Authority and California Statewide Communities Development Authority, among others. 'The lowered rating is based on the state of California's general obligation (GO) debt underlying rating (SPUR), which Standard & Poor's recently lowered to 'A', and does not reflect any underlying changes to the Cal Mortgage program,' said Standard & Poor's credit analyst Geraldine Poon. 'The state's lowered rating reflects our view that the state's...
Companies mentioned in this report are: Asian Hlth Svcs
Action: Downgraded
Action: Outlook: Stable
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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