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'AA-' Rating Assigned To Sutter Health, CA's $325 Million Bonds Due To Sound Cash Flow, Good Market Position Dec 11
Standard & Poors, Dec 2011
Abstract
SAN FRANCISCO (Standard & Poor's) Dec. 6, 2011-- Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Sutter Health, Calif.'s series 2011C bonds issued by California Statewide Communities Development Authority-(C SCDA), and $325 million series 2011D bonds issued by California Health Facilities Financing Authority (CHFFA). At the same time, Standard & Poor's affirmed its 'AA-' long-term rating and underlying rating (SPUR) on Sutter's health care revenue bonds outstanding, issued by various entities. The outlook on all ratings is stable. 'We view the system's long history of sound operating results to be very consistent, and note that it has good cash flow, improved liquidity, and growth in unrestricted net assets,' said Standard & Poor's credit analyst Geraldine Poon. 'Further...
Companies mentioned in this report are: Sutter Hlth,California Hlth Facs Fin Auth,California Statewide Communities Dev Auth
Action: Affirmed
Action: New Rating
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 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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