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CA Health Facilities Financing Authority/True to Life Children's Services' Bonds Rated 'AA' Sep 00
Standard & Poors, Sep 2000
Abstract
SAN FRANCISCO (Standard & Poor's CreditWire) Sept. 26, 2000--Standard & Poor's today assigned its double-'A' rating to California Health Facilities Financing Authority's $2.4 million insured health facility revenue bonds series 2000A, issued for True to Life Children's Services. The bonds are scheduled to sell Sept. 27, 2000. The outlook is stable. The rating is based on insurance from California's Health Facilities Construction Loan Insurance Program (Cal-Mortgage). Under the Cal-Mortgage program, the bonds are guaranteed by the program's own Health Facilities Construction Loan Insurance Fund (HFCLIF), which is funded by up-front fees from new issuers, interest income on the fund, and from the annual premium charged to borrowers (0.5% of par amount). However, the ultimate backing for the program is the...
Companies mentioned in this report are: California Hlth Facs Fin 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: 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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