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: New Rating
Action: Outlook: Stable
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