Episcopal Homes Foundation, CA's Rtg Outlook Revised To Positive On Positive Operating Results Feb 06
- ID: 1931620
- February 2006
- Standard & Poors
SAN FRANCISCO (Standard & Poor's) Feb. 2, 2006--Standard & Poor's Ratings Services revised its rating outlook to positive on ABAG Finance Authority for Nonprofit Corp., Calif.'s $91.2 million bonds, issued for Episcopal Homes Foundation (EHF). Additionally, Standard & Poor's affirmed its 'BBB+' rating on EHF's bonds. The positive outlook reflects EHF's return to profitable operating results over the past two fiscal years and a resulting improvement in debt service coverage. "EHF continued to generate positive operating results in fiscal 2005 following a return to profitable results in 2004. Operating revenues also continued to increase," Standard & Poor's credit analyst James Cortez said. "Net entrance fees received also grew in fiscal 2005 and resulted in solid adjusted maximum annual debt service...
Companies mentioned in this report are:
- Episcopal Senior Communities
- ABAG Fin Auth For Nonprofit Corps
Action: Outlook: Positive
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