|
|
 |
|
Viewing report
|
|
|
|
ABAG Finance Authority For Nonprofit Corp., California Episcopal Senior Communities; Joint Criteria; Long Term Care Nov 08
Standard & Poors, Nov 2008
Abstract
Standard & Poor's Ratings Services revised its rating outlook to stable from positive and affirmed its 'BBB+' rating on ABAG Finance Authority for Nonprofit Corp., Calif.'s $76.7 million series 1998 bonds, issued for Episcopal Senior Communities (ESC; formerly, Episcopal Homes Foundation; EHF). Also, Standard & Poor's affirmed its 'AAA/A-1+' dual rating and 'BBB+' underlying rating (SPUR) on the authority's $25.9 million series 2000 bonds. The dual rating is based on the low-correlation joint criteria reflecting a Wells Fargo Bank letter of credit (LOC) in effect for the issue and also the credit of ESC. The outlook revision to stable and 'BBB+' SPUR affirmation reflects softer systemwide occupancy although demand remains reasonably firm, several aging facilities that face increased competition, strong...
Companies mentioned in this report are: Episcopal Senior Communities,ABAG Fin Auth For Nonprofit Corps
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: Full Analysis
|
|
|
|
