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Episcopal Homes Foundation, CA's Rtg Outlook Revised To Positive On Positive Operating Results Feb 06 Product Image

Episcopal Homes Foundation, CA's Rtg Outlook Revised To Positive On Positive Operating Results Feb 06

  • Published: February 2006
  • Standard & Poors

Abstract
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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- Episcopal Senior Communities
- ABAG Fin Auth For Nonprofit Corps

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