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Summary: Colorado Health Facilities Authority Catholic Health Initiatives; System Nov 11 Product Image

Summary: Colorado Health Facilities Authority Catholic Health Initiatives; System Nov 11

  • ID: 2025583
  • November 2011
  • Region: Colorado
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services has affirmed its 'AA/A-1+' rating on Colorado Health Facilities Authority's variable-rate revenue bonds series 2004B-6, issued on behalf of Catholic Health Initiatives. The 'AA' long-term component of the rating is based on the rating on the obligor, Catholic Health Initiatives. The 'A-1+' short-term component of the rating is based on a substitute standby bond purchase agreement (SBPA) provided by JPMorgan Chase Bank, N.A. (A-1+). The JPMorgan Chase Bank SBPA provides coverage for the purchase price of tendered bonds during the variable-rate (daily or weekly) and the short-term modes. The SBPA covers 35 days' interest at a maximum rate of 12%. Upon conversion of the bonds to any noncovered mode, the liquidity facility shall terminate after...

Companies mentioned in this report are:
- Catholic Health Initiatives
- Colorado Hlth Fac Auth

Action: Affirmed
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 READ MORE >

- Catholic Health Initiatives
- Colorado Hlth Fac Auth

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