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Scripps Health, CA's Series 2012A Bonds Rated 'AA-'; Series 2012B And 2012C Bonds Rated 'AA-/A-1+' Jan 12

  • ID: 2038957
  • January 2012
  • Standard & Poors
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SAN FRANCISCO (Standard & Poor's) Jan. 5, 2012--Standard & Poor's Ratings Services assigned its 'AA-' rating to the California Health Facilities Financing Authority's $175.0 million series 2012A fixed-rate revenue bonds issued on behalf of Scripps Health (Scripps). At the same time, we assigned our 'AA-/A-1+' rating to the authority's $60.0 million series 2012B and $40.0 million series 2012C variable-rate demand bonds (VRDBs) also issued for Scripps. The series 2012B and 2012C bonds are expected to bear interest in the weekly mode initially and will be supported by self-liquidity. The outlook on all long-term ratings is stable. The short-term ratings reflect both the ample liquidity and the sufficiency of assets pledged by Scripps to cover the series 2012B and series 2012C...

Companies mentioned in this report are:
- Scripps Hlth
- California Hlth Facs Fincg 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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- Scripps Hlth
- California Hlth Facs Fincg Auth

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