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California Health Facilities Financing Authority Scripps Health; Joint Criteria; System Jan 12
Standard & Poors, Jan 2012
Abstract
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 VRDBs in the event of a failed...
Companies mentioned in this report are: Scripps Hlth,California Hlth Facs Fin Auth
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
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